Egyptian, Ugandan Presidents open business forum to boost trade

Daily News Egypt

a day ago

Egyptian President Abdel Fattah Al-Sisi and his Ugandan counterpart, Yoweri Museveni, on Tuesday opened the Egypt-Uganda Business Forum in Cairo, calling for the rapid formation of a joint business council and urging a doubling of trade volume between the two countries.
The forum was held during Museveni's official visit to Egypt.
'Egypt sees Uganda as a key partner in the southern Nile Basin region, and we seek for Uganda to be one of the biggest beneficiaries of Egyptian mechanisms dedicated to supporting development in Nile Basin countries,' Al-Sisi said in his address to the forum.
'We look forward to raising the level of economic cooperation and increasing the volume of trade exchange, which reached about $133m in 2024, and we aspire to double it to reflect our shared potential,' he added.
Al-Sisi stressed the importance of intensifying the exchange of business delegations and encouraging companies in both countries to increase their exports, particularly in agriculture, pharmaceuticals, building materials, and electrical appliances.
The forum's opening session included speeches by Egypt's Minister of Investment and Foreign Trade, Hassan El Khatib, and Uganda's Minister of Trade, Industry and Cooperatives, Mwebesa Francis. A documentary film on the historical bilateral relations between the two countries was also screened.
Al-Sisi described the forum as a practical step to translate strong political relations into tangible projects that benefit both nations.
'We are convinced that the private sector and entrepreneurs in our two countries must be the real engine of our partnership in the fields of economy, trade, and investment, and that the role of governments is to provide the supportive legal and political frameworks for these partnerships to flourish,' the Egyptian president said.
'I reaffirm that Egypt, as it has always been, extends its hand to Uganda as a partner, brother, and friend, in a framework of mutual respect and in a way that achieves common interests,' he concluded.