Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, met with Bakhtiyor Saidov, Uzbekistan’s Minister of Foreign Affairs, at the ministry’s headquarters in Cairo to discuss ways to strengthen investment and trade cooperation between the two countries.
The meeting reviewed opportunities to enhance partnerships between the Egyptian and Uzbek business communities across several sectors of mutual interest.
The two sides discussed a range of areas for potential cooperation, including textiles and ready-made garments, pharmaceuticals and medical supplies, bus and tractor manufacturing, investment opportunities in Egypt’s capital market, and greater collaboration between investment institutions and sovereign wealth funds. They also explored mechanisms to support direct communication between business communities in both countries and promote partnership and joint investment opportunities through Egypt’s investment zones system.
Farid affirmed Egypt’s commitment to strengthening economic relations with Uzbekistan as part of the country’s broader strategy to expand cooperation with promising markets. He highlighted Egypt’s investment potential, strategic geographic location, and extensive network of trade agreements, which provide access to numerous regional and international markets.
The minister noted that the government is continuing efforts to create a more attractive business environment that encourages investment. He welcomed the expansion of Uzbek companies in the Egyptian market and their utilisation of available investment opportunities, stressing that this would contribute to increasing bilateral investments and boosting trade between the two countries.
For his part, Saidov reaffirmed Uzbekistan’s interest in deepening economic cooperation with Egypt, describing it as an important regional partner. He noted that Uzbekistan is implementing ambitious programmes aimed at attracting foreign investment, diversifying investment sources, and strengthening cooperation with friendly nations.
Saidov also highlighted the interest of Uzbek companies in exploring investment opportunities and expanding their presence in the Egyptian market, particularly in light of the competitive advantages and promising opportunities Egypt offers investors. He underscored Uzbekistan’s commitment to enhancing communication between business institutions in both countries to advance joint projects and strengthen economic ties.
At the conclusion of the meeting, both sides agreed to maintain close coordination and communication between the relevant authorities in Egypt and Uzbekistan to follow up on areas of mutual interest and build on the outcomes of the discussions, with the aim of further strengthening bilateral economic, investment, and trade relations.
