Uzbekistan sets $500M trade goal with Egypt, signs six key cooperation agreements

Uzbekistan and Egypt have taken a major step in bolstering their bilateral relations, signing six pivotal cooperation agreements during the 7th Session of the Joint Committee on Economic, Scientific, and Technical Cooperation this December 24.

The event, co-chaired by Egypt’s Minister of Planning and International Cooperation, Rania A. Al-Mashat, and Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, marked the first meeting of its kind in 15 years, symbolizing a revived commitment to collaboration.

The agreements span key sectors such as environmental protection, academic collaboration, cultural heritage preservation, and regional partnerships. Among the highlights is a partnership between Egypt’s Supreme Council of Antiquities and Uzbekistan’s Islamic Civilization Center, aimed at fostering artistic and scientific exchanges. Another notable accord involves Ain Shams University and Tashkent State University of Oriental Studies, which agreed to promote joint academic and research endeavors.

In addition to the agreements, both ministers signed the session’s protocol, setting forth a detailed framework for cooperation across 14 developmental sectors, including trade, energy, tourism, transportation, public-private partnerships, and higher education. This protocol serves as a roadmap to strengthen the strategic alliance between the two nations.

Uzbekistan’s Minister Laziz Kudratov outlined an ambitious goal of boosting bilateral trade to $500 million in the coming years. He stressed the importance of overcoming trade barriers and extended invitations to Egyptian businesses to participate in upcoming exhibitions in Uzbekistan. Kudratov also proposed establishing an Egyptian-Uzbek Business Council to enhance private sector cooperation, emphasizing Egypt’s significant expertise in pharmaceuticals, electronics, and textiles as essential contributors to regional development initiatives.