Egypt, Uzbek­istan study estab­lish­ing joint busi­ness coun­cil

The Daily News Egypt - - Business - By Shaimaa Al-Aees

Egypt and Uzbek­istan are study­ing estab­lish­ing a joint busi­ness coun­cil to pro­vide and study in­vest­ment op­por­tu­ni­ties be­tween the two coun­tries, be­sides estab­lish­ing joint com­pa­nies to re­view the trade ex­change be­tween the two sides, ac­cord­ing to Egyp­tian Min­is­ter of In­dus­try and Trade Tarek Ka­bil.

Ka­bil met the am­bas­sador of Uzbek­istan to Egypt, Oy­bek Us­manov, on Sun­day to pro­mote trade and eco­nomic re­la­tions be­tween Egypt and Uzbek­istan.

Ka­bil said the trade ex­change be­tween the two coun­tries only reg­is­tered about $1.5m, which doesn’t re­flect the ca­pa­bil­i­ties of the two coun­tries.

In this re­gard, the min­is­ter called on Uzbek in­vestors and busi­ness­peo­ple to in­vest in the Egyp­tian mar­ket to im­prove the bi­lat­eral in­vest­ment be­tween both coun­tries.

Uzbek­istan is ranked 111th in terms of the vol­ume of its in­vest­ments in Egypt, with a to­tal of 13 com­pa­nies with a cap­i­tal of $670,000, ac­cord­ing to Ka­bil.

The min­is­ter noted that Uzbek in­vestors can ben­e­fit from the large in­cen­tive pack­ages of­fered by the Egyp­tian govern­ment to for­eign in­vestors, ben­e­fit­ting from the net­work of free­trade agree­ments be­tween Egypt and a large num­ber of coun­tries and ma­jor eco­nomic blocs in the world.This pro­vides a promis­ing mar­ket of more than 1.8 bil­lion con­sumers of prod­ucts man­u­fac­tured in the Egyp­tian mar­ket.

For his part, the Uzbek am­bas­sador ex­pressed his coun­try’s keen­ness to strengthen eco­nomic co­op­er­a­tion with Egypt as one of the most im­por­tant coun­tries in the Mid­dle East and Africa.

Ka­bil pointed out that it is im­por­tant to in­crease trade mis­sions be­tween the two sides and in­ten­sify the par­tic­i­pa­tion in the spe­cial­ized in­ter­na­tional ex­hi­bi­tions or­ga­nized by Egypt, as well as the var­i­ous ex­hi­bi­tions held in Uzbek­istan to in­form the Uzbek busi­ness com­mu­nity of the var­i­ous types of Egyp­tian prod­ucts avail­able for ex­port.

He noted that Egypt is fully pre­pared to meet the needs of the Uzbek mar­ket with dif­fer­ent prod­ucts, es­pe­cially those in which Egypt has a com­pet­i­tive edge,such as medicines,food prod­ucts, agri­cul­tural crops, and chem­i­cal prod­ucts needed by the Uzbek mar­ket.

Ka­bil met the am­bas­sador of Uzbek­istan to Egypt, Oy­bek Us­manov, on Sun­day

Newspapers in English

Newspapers from Egypt

© PressReader. All rights reserved.