The Egyptian-Tanzanian Business Forum focuses on enhancing economic cooperation, with Egypt aiming to strengthen ties through trade agreements and investment opportunities. Key sectors include agriculture, pharmaceuticals, and infrastructure, highlighting Egypt’s industrial capabilities and commitment to collaborative projects like the Julius Nyerere Dam.
The Egyptian-Tanzanian Business Forum, inaugurated by Egypt’s Minister of Foreign Affairs, Badr Abdelatty, and Tanzania’s Minister, Mahmoud Thabit Kombo, aims to enhance economic ties between the two nations. Held in Cairo, the forum emphasized collaboration in various sectors, including agriculture, construction, and pharmaceuticals, with participation from both state officials and prominent business leaders.
Abdelatty highlighted Egypt’s dedication to bolstering trade relations with African countries, encouraging Egyptian companies to invest and form mutually beneficial partnerships. He noted the establishment of the Egyptian Agency for Export and Investment Guarantee to support business expansion into Africa and address development needs.
The Egyptian pharmaceutical sector was emphasized, with Abdelatty encouraging Tanzanian partnerships to supply affordable essential products. He promoted industrial collaboration opportunities in Egypt that would cater to Tanzanian requirements and enhance trade.
Detailing Egypt’s manufacturing capabilities across various sectors, including food and construction materials, Abdelatty pointed out the country’s active involvement in construction projects across Africa, notably in Tanzania. He also underscored the strategic advantages of existing trade agreements like COMESA, which facilitate investments.
Investment opportunities in the Suez Canal Economic Zone, which aims to establish a regional logistics hub, were discussed. Abdelatty and Kombo also engaged in bilateral discussions to strengthen the longstanding relations between their countries following previous agreements made during earlier official visits.
During these talks, Abdelatty noted the rise in interest from Egyptian investors in Tanzania, with approximately $1.36 billion in Egyptian investments reported. He expressed hopes to enhance investment in infrastructure, agriculture, and fisheries, while reaffirming Egypt’s commitment to support developmental initiatives in Tanzania, such as the Julius Nyerere Dam project, which is nearing completion.
The Egyptian-Tanzanian Business Forum marked a significant step towards enhancing bilateral economic ties, with commitments from both nations to foster collaboration across multiple sectors, particularly in investment, agriculture, and infrastructure. Egypt’s proactive approach in promoting its industrial capabilities and existing agreements aims to bolster trade and investment opportunities, exemplifying a dedicated effort to strengthen African cooperation. This partnership represents both countries’ aspirations for mutual growth and development in various economic domains.
Original Source: www.dailynewsegypt.com
