23 July 2019 11:47 AM

Nine ministers, Uzbek delegation review boosting cooperation

Tuesday، 14 August 2018 - 03:24 PM

Nine ministers from various economic sectors had talks on Tuesday 14/8/2018  with a visiting Uzbek delegation under Foreign Trade Minister Jamshid Xojayev on preparations for a meeting of the joint committee for economic, scientific and technical cooperation.

The talks tackled means of enhancing investment cooperation among business communities of both countries.

A business forum for major companies of both countries would be organized on the fringe of the joint committee meeting to explore investment opportunities.

The two countries are expected to mull the establishment of an investment council to facilitate investment flow between them, especially in the fields of transport, tourism, agriculture, health and trade.

Military Production Minister Mohamed el Assar took part in the get-together alongside Ministers Sahar Nasr of Investment, Hisham Arafat of Transport, Rania el Mashaat of Tourism, Mohamed Maait of Finance, Ezz Eddin Abu Steit of Agriculture, Hala Zayed of Health, Ashraf Sobhy of Youth and Amr Nassar of Trade and Industry.

Assar underlined the ministry's keenness on having fruitful cooperation with Uzbekistan via military manufacturing companies, highlighting the importance of exchanging delegations to stand on cooperation opportunities.

Meanwhile, Investment Minister Nasr underlined the importance of giving momentum to economic and investment cooperation between the two countries, citing the reforms carried out to improve the investment climate in Egypt, especially the new investment law and Egypt's issuance of its first new and renewable energy law.

For his part, the Uzbek Foreign Trade Minister said he and his accompanying delegation will visit the Suez Canal Economic Zone to explore investment opportunities, hailing the developments realized to encourage investments.

Transport Minister Hisham Arafat said both countries have a similar infrastructure with regard to roads and railways, adding that Egypt can draw on Uzbekistan’s expertise in maintaining railways.

Uzbek Minister Xojayev called for Egypt’s contribution to his country’s plan for upgrading land transportation, lauding the giant Egyptian road network which facilitates goods’ movement at low cost.

Meanwhile, Tourism Minister Mashaat said the ministry will launch a joint promotion campaign with the Uzbek side to encourage Uzbek tourists' flow to Egypt.

Within this context, Xojayev said many Uzbek businessmen are interested in pumping investments in the tourism sector in Egypt, hailing the Egyptian tourist cities with their magnificent potentials which qualify them to vie with international tourist hubs.

Health Minister Zayed said her ministry is ready for cooperating with Uzbekistan in pharmaceutical industries, noting that Uzbekistan is keen on benefiting from Egypt’s expertise in the field of serums and vaccines.

For his part, Agriculture Minister Abu Steit said his ministry is keen on cooperating with Uzbekistan and benefiting from the Uzbek expertise in agricultural manufacturing as well as labs for testing agricultural products.

Meanwhile, Youth and Sports Minister Sobhy highlighted the importance of furthering bilateral cooperation through cultural exchange programs among youths and exchanging expertise in the sports domain.

The Uzbek minister stressed his country’s interest in cooperating with Egypt in the youth and sports domains.

For his part, Trade and Industry Minister Nassar underlined the importance of coordination between the two countries to boost trade exchange which reached dlrs 1.7 million in 2017.

He said this figure is not commensurate with the great potentials of the Egyptian and Uzbek economies.

He said the convocation of a meeting of the joint committee in Uzbekistan this month is an important step for realizing a quantum leap in trade cooperation.

He accentuated the importance of establishing an Egyptian-Uzbek business council for examining available investment opportunities in addition to exchanging visits among commercial delegations.

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