Uzbekistan and Egypt are demonstrating rapid dynamics in the development of bilateral trade and economic cooperation. By the end of 2023, trade turnover between the two countries increased by nearly 50% compared to the previous year, reports the official website of the Parliament of Uzbekistan.
The strengthening of mutually beneficial trade ties was one of the key topics of discussion at the meeting between the Speaker of the Senate of the Oliy Majlis of Uzbekistan, Tanzila Narbayeva, and the head of the Egyptian Senate, Abdel-Wahab Abdel-Razeq.
The parties considered promising areas of cooperation, focusing on expanding trade and economic, cultural and humanitarian, tourist, and interparliamentary interactions.
In 2023, trade turnover between Uzbekistan and Egypt reached a record level, exceeding $500 million.
Egypt mainly imports cotton, textiles, chemical products, and mineral fertilizers from Uzbekistan.
In turn, Uzbekistan imports pharmaceuticals, plastics and plastic products, as well as various equipment and mechanical devices from Egypt.
The meeting participants expressed the need to implement joint scientific and educational projects, which will further strengthen multifaceted cooperation.
An initiative was proposed to create friendship groups in the parliaments of Egypt and Uzbekistan to facilitate the exchange of experiences between territorial representative bodies, which play an important role in the institution of popular representation.
Following the negotiations, the chairpersons of the senates of the two countries signed a Memorandum of Understanding, legally formalizing the framework for further interaction.
The expansion of trade and economic ties and the implementation of joint projects in various fields are intended to bring Uzbek-Egyptian cooperation to a qualitatively new level.
CentralasianLIGHT.org
May 31, 2024