Today, Tashkent is actively concluding trade contacts and strengthening business contacts between local companies and African countries. This is stated on the website of the Agency for Strategic Reforms under the President of the Republic of Uzbekistan.
Analyst of the agency Friederike Seifert assessed the prospects for economic cooperation with African countries.
Of the total number of contracts (57%), Egypt accounts for 57%. Other key partners include Morocco (17%), Sudan (16%), South Africa (6%) and Tunisia (2%).
Despite the diversity of economic development in African countries, most of them are members of the WTO and participate in the African Continental Free Trade Area.
The agricultural sector plays a leading role in the economy of most African countries. Therefore, supplies of Uzbek fertilizers and agricultural machinery are of particular interest to them.
The mining industry is the second most important sector in many African countries. From hydrocarbons (in Algeria, Gabon, Libya and Nigeria) to metals and minerals (in Namibia and South Africa) and diamonds (in Botswana).
In this context, the export of Uzbek equipment for the mining industry is also in demand in these countries.
The study emphasizes that Egypt is a leader in economic development in North Africa with a diversified economic structure.
Key items of Egyptian exports include oil, nitrogen fertilizers and gold, while the main imports are wheat and medicines.
In 2022, the volume of exports from Egypt to Uzbekistan reached $ 8.53 million, including citrus fruits and broadcasting equipment.
In turn, Uzbekistan exported goods worth over $ 23 million to Egypt, including cotton yarn, sulfur and synthetic yarn.
In addition, the country supplies trucks, phosphinates and wax to Egypt. The potential for expanding these export flows remains significant.
Tashkent may also be interested in many types of Egyptian products, such as polymers, iron, fiberglass and paper.
CentralasianLIGHT.org
July 26, 2024