The Egyptian-Tanzanian Business Forum, led by Ministers Badr Abdelatty and Mahmoud Thabit Kombo, seeks to strengthen economic ties between Egypt and Tanzania. The forum focuses on encouraging investment, enhancing trade relations, and promoting partnerships in various sectors including agriculture and pharmaceuticals, while emphasizing Egypt’s commitment to aid African development through initiatives like the Egyptian Agency for Export and Investment Guarantee.
The Egyptian-Tanzanian Business Forum, inaugurated by Egypt’s Minister of Foreign Affairs, Badr Abdelatty, and Tanzania’s Minister of Foreign Affairs, Mahmoud Thabit Kombo, aims to enhance economic relations between the two nations. Held in Cairo, the forum gathered Egyptian business leaders alongside a high-ranking Tanzanian delegation from various sectors including construction and agriculture, fostering an environment for potential collaboration.
Minister Abdelatty reiterated Egypt’s commitment to bolstering trade connections with African nations, urging Egyptian enterprises to support development initiatives across the continent. He emphasized Egypt’s readiness to address Africa’s developmental requirements and introduced the Egyptian Agency for Export and Investment Guarantee, intended to enhance investment across African markets.
The Minister particularly pointed out the strengths of Egypt’s pharmaceutical industry, advocating for partnerships between Egyptian and Tanzanian businesses. He urged Tanzanian leaders to engage in joint projects, increase trade volumes, and establish industrial initiatives that would benefit both nations economically.
Abdelatty elaborated on Egypt’s manufacturing prowess across diverse sectors such as food, chemicals, and construction materials, underscoring the significant role Egyptian firms play in infrastructure projects within Africa, including Tanzania. He highlighted existing trade agreements like the COMESA agreement and encouraged foreign collaboration to improve market entry for businesses.
Investment possibilities within the Suez Canal Economic Zone were also spotlighted, with aspirations to develop it into a key regional logistics hub. Subsequent to the forum, Abdelatty and Kombo engaged in bilateral discussions, where they celebrated their historical ties and looked to fortify cooperation on multiple fronts.
Abdelatty acknowledged the advancements made since previous diplomatic engagements and expressed a desire to reconvene discussions soon. He noted the increasing interest from Egyptian investors, with about $1.36 billion in Egyptian investments currently in Tanzania, and reiterated Egypt’s commitment to augmenting these figures and fortifying collaboration in sectors like agriculture and fisheries.
Lastly, the Minister underscored the significance of the Julius Nyerere Dam project as a model of African cooperation in hydroelectric developments, affirming Egypt’s dedication to regional progress within the Nile Basin.
In conclusion, the Egyptian-Tanzanian Business Forum represents a significant effort to amplify economic collaborations between Egypt and Tanzania. Through joint partnerships and investment opportunities, both nations aim to bolster their trade relations, enhance infrastructure, and support mutual development goals. The commitment to projects like the Julius Nyerere Dam further illustrates the dedication of both countries to regional cooperation and growth.
Original Source: www.dailynewsegypt.com
