5 days ago
Uzbek official: Significant leap in Egyptian-Uzbek economic ties since Sisi's visit in 2018
Rasulev, in statements to MENA, said major Egyptian companies since president Sisi's visit launched operations in Uzbekistan, with investment projects becoming more diverse across multiple sectors. He highlighted the strong institutional cooperation between Uzbekistan and Egypt's General Authority for Investment and Free Zones (GAFI). A recent virtual meeting was held to enhance mutual investment promotion, share market insights, and exchange best practices, Rasulev, said. Egypt a is deemed Uzbekistan's gateway to the African continent, Rasulev said, adding that Africa's growing consumer demand comes in line with Uzbekistan's expanding industrial output. Uzbekistan aims to export its products to African markets via Egypt, leveraging the strategic Middle Corridor that connects Central Asia to the Middle East and Africa, Rasulev stated. The Uzbek official further encouraged Egyptian companies to seize the opportunity to enter Uzbekistan's market before its anticipated accession to the World Trade Organization (WTO), which would provide a strategic advantage.
FDI in Uzbekistan surged from $3.4 billion in 2017 to $34.8 billion in 2024, with plans to reach $42 billion shortly and surpass $100 billion by 203, Rasulev revealed went on to say.
