Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov has proposed the creation of a digital platform to enhance economic cooperation between Egypt and Uzbekistan. The platform aims to facilitate business connections, foster partnerships, and specifically support small and medium-sized enterprises (SMEs). This initiative was discussed during the seventh session of the Egyptian-Uzbek Joint Committee for Economic, Scientific, and Technical Cooperation, which marked the first meeting after a 15-year hiatus.
Kudratov also emphasized the importance of establishing a joint Egyptian-Uzbek Business Council to promote private-sector collaboration. He encouraged Egyptian companies to participate in exhibitions in Uzbekistan scheduled for 2025, further boosting trade and investment. Additionally, Kudratov reiterated Uzbekistan’s commitment to strengthening bilateral ties, setting an ambitious goal of increasing trade between the two countries to $500 million in the coming years. He stressed, however, that overcoming current barriers and challenges would be crucial in achieving this target.
Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat acknowledged the historical significance of the session, noting that it was a direct result of President Abdel-Fattah El-Sisi’s 2018 visit to Uzbekistan. Al-Mashat highlighted Egypt’s strategic role as a gateway for Uzbek exports to Africa, while emphasizing Uzbekistan’s position as a key hub for Egyptian exports to Central Asia. Despite the growing potential for collaboration, she pointed out that trade and investment levels between the two nations remain below expectations. According to Trade Map data, the trade volume between Egypt and Uzbekistan dropped to $36 million in 2023, down from $50 million in 2022. Currently, 24 Uzbek companies operate in Egypt, primarily in sectors like tourism, telecommunications, IT, and agriculture.
During the session, both countries signed four memorandums of understanding (MoUs) aimed at deepening bilateral ties. One MoU, signed by Al-Mashat and Uzbekistan’s Ministry of Ecology, Environmental Protection, and Climate Change, focuses on environmental cooperation, particularly pollution reduction. Another MoU, between Ain Shams University and Tashkent State University of Oriental Studies, aims to strengthen academic collaboration. A third MoU, signed by Egypt’s Supreme Council of Antiquities and Uzbekistan’s Centre for Islamic Civilization, seeks to promote cultural exchanges. The final MoU, between the Samarkand region of Uzbekistan and Alexandria Governorate, focuses on fostering both cultural and economic exchanges between the two regions.
Additionally, Al-Mashat and Kudratov signed a protocol outlining a comprehensive roadmap for expanding cooperation across key sectors, including trade, investment, energy, agriculture, education, health, tourism, and transport. Since the opening of Egypt’s embassy in Uzbekistan in 1995, bilateral relations have grown steadily, with the first session of the joint committee held in 1996. The seventh session reflects a renewed focus on enhancing bilateral ties, with both nations optimistic about the potential for future collaboration.
