The Egyptian-Tanzanian Business Forum, co-inaugurated by the Foreign Ministers of Egypt and Tanzania, aims to enhance economic cooperation. The forum gathers key stakeholders from various sectors, emphasizing Egypt’s commitment to mutual development, investment opportunities, and collaboration in agriculture, pharmaceuticals, and construction. Notably, bilateral talks focus on expanding investments and promoting projects like the Julius Nyerere Dam, symbolizing regional cooperation.
The Egyptian-Tanzanian Business Forum, inaugurated by Egypt’s Minister of Foreign Affairs and Immigration, Badr Abdelatty, and Tanzania’s Minister of Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo, aims to enhance economic collaboration between the two nations. The forum featured prominent Egyptian business leaders alongside a high-level delegation from Tanzania representing various sectors, including construction, agriculture, and pharmaceuticals.
Minister Abdelatty emphasized Egypt’s determination to develop robust economic and trade relationships with African nations while encouraging local companies to engage in promoting development across the continent. He pointed out the establishment of the Egyptian Agency for Export and Investment Guarantee, which aims to bolster Egyptian investments in African markets.
Highlighting Egypt’s pharmaceutical industry, Abdelatty noted its potential to meet Tanzania’s demand for affordable essential products. He urged Tanzanian business leaders to explore partnership opportunities with Egyptian companies in various commercial and agricultural sectors, promising shared benefits and increased trade volume.
Abdelatty remarked on Egypt’s diverse manufacturing capabilities, encompassing food products, chemical goods, and construction materials. He cited ongoing Egyptian involvement in construction projects within Tanzania and across Africa, underlining Egypt’s commitment to empowering the private sector to foster economic growth.
The Foreign Minister also discussed Egypt’s trade agreements, notably the COMESA agreement, and highlighted the investment potential within the Suez Canal Economic Zone, a planned regional logistics hub. During bilateral discussions, he praised the enduring relationship between Egypt and Tanzania, underlining recent progress and cooperation in key areas like agriculture and tourism.
Abdelatty acknowledged the growing interest from Egyptian investors in Tanzania, with an impressive $1.36 billion in Egyptian investments recorded. He expressed intentions to further enhance investments in Tanzania’s infrastructure and projects while reaffirming Egypt’s commitment to providing necessary technical assistance through the Egyptian Agency for Partnership for Development.
He concluded by addressing Egypt’s dedication to the Julius Nyerere Dam project, illustrating successful African cooperation in hydroelectric dam construction, with its completion nearing 99.9%. The project reflects Egypt’s commitment to furthering development in the Nile Basin region.
The Egyptian-Tanzanian Business Forum seeks to solidify the economic ties between Egypt and Tanzania, with a strong emphasis on increased investment opportunities and collaboration across various sectors. Both nations exhibit a commitment to fostering mutual benefits, particularly in agriculture, infrastructure, and industrial projects, reflecting a shared vision for developmental progress. The ongoing investment initiatives and cooperation in significant projects like the Julius Nyerere Dam underscore the deepening bilateral relations between the two countries.
Original Source: www.dailynewsegypt.com
