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    Uzbek enterprises for the production of textile, leather and electrical products will be established in Egypt

    Business 4 April 2023 976

    On April 3 of this year, Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov met with Minister of Trade and Industry of the Arab Republic of Egypt Ahmed Saleh via videoconference to discuss the current state and prospects for increasing bilateral cooperation in trade, economic, investment and industrial spheres.

    Thus, during the conversation, issues of development of investment cooperation were discussed, in particular, measures to create a joint center for industrial cooperation and distribution in Port Said to accommodate Uzbek enterprises for the production of textile, leather and electrical products. The Egyptian side expressed its readiness to provide comprehensive assistance to the effective timely implementation of projects.

    The issues of trade and industrial cooperation development were discussed. In this context, it was noted that there is a significant potential for increasing the volume of bilateral trade. In this regard, the parties reached an agreement to intensify joint efforts aimed at the early completion of the coordination and approval of the Program for the Development of Industrial Cooperation and Trade, as well as the Agreement on Preferential Trade between the two countries.

    Following the conversation, the parties expressed their readiness to assist in the successful implementation of the discussed areas of cooperation. The issues of creating a joint Business Council between the Chambers of Commerce and Industry of the two countries and holding its first meeting within the framework of the Intergovernmental Commission meeting in Tashkent this summer were also agreed.