Egypt, Uzbekistan eye stronger trade, investment ties

Egypt’s Prime Minister, Moustafa Madbouli, met with Uzbekistan’s Foreign Minister, Bakhtiyor Saidov, in Cairo on Saturday, underscoring the growing momentum in bilateral relations and a mutual commitment to expanding cooperation across various sectors.

Madbouli praised the increasing interest shown by both nations in strengthening their close ties. He reaffirmed Egypt’s commitment to ongoing coordination with Uzbekistan in international forums and highlighted opportunities to boost economic cooperation through targeted projects and investments aimed at increasing trade volumes.

To achieve this, the Prime Minister stressed the importance of establishing an Egyptian-Uzbek chamber of commerce, convening a joint business council, and progressing negotiations toward a preferential free trade agreement.

Madbouli noted that Egypt’s strategic location offers Uzbekistan an ideal gateway to markets across the Middle East and Africa. He also pointed to the successful operations of Egyptian companies already working in Uzbekistan, particularly in infrastructure, along with Egyptian investments in electrical appliance manufacturing and potential partnerships in pharmaceutical production.

Turning to regional affairs, the two diplomats reviewed ongoing crises, focusing on Egypt’s efforts to reduce tensions and promote security and stability. Particular emphasis was placed on initiatives aimed at advancing a settlement of the Palestinian issue.

For his part, Saidov conveyed greetings from Uzbek President Shavkat Mirziyoyev to Egyptian President Abdel Fattah El-Sisi, expressing his gratitude for Egypt’s hospitality. He praised President El-Sisi’s regional peacekeeping efforts and described his own visit as a catalyst for advancing bilateral relations.

The Uzbek Foreign Minister highlighted strong prospects for joint projects in several key industries, including infrastructure, automotive production, agricultural machinery manufacturing, fertilisers, chemicals, and pharmaceuticals.

Concluding the meeting, Saidov reaffirmed Uzbekistan’s support for the establishment of an independent Palestinian state along the June 4, 1967 borders, with East Jerusalem as its capital, and voiced backing for international efforts toward a peaceful resolution.