The Egyptian-Tanzanian Business Forum aims to strengthen economic ties between Egypt and Tanzania, emphasizing investment opportunities and collaborations in sectors such as agriculture, construction, and pharmaceuticals. Key discussions highlighted Egypt’s capabilities and desire for increased investments in Tanzania, with a focus on infrastructure and joint projects.
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, was held in Cairo to bolster economic ties between Egypt and Tanzania. This event gathered prominent Egyptian business leaders and a high-level Tanzanian delegation from various sectors, including agriculture, pharmaceuticals, and construction.
Minister Abdelatty emphasized Egypt’s dedication to enhancing economic relations with African countries, stating that Egypt encourages its firms to actively support development across the continent. He noted that Egypt’s capabilities position it to meet Africa’s developmental needs and highlighted the creation of the Egyptian Agency for Export and Investment Guarantee, which supports Egyptian companies expanding into African markets.
He also underscored the strengths of the Egyptian pharmaceutical industry, advocating for partnerships with Tanzanian business leaders to boost trade and explore joint agricultural ventures. Abdelatty invited Tanzanian entrepreneurs to capitalize on the investment incentives available within Egypt, specifically promoting the country’s diverse industrial landscape, which includes food production and construction materials.
The Foreign Minister reiterated Egypt’s existing trade agreements, particularly with COMESA, and outlined the government’s plans to assist foreign companies in entering the Egyptian market. He drew attention to opportunities in the Suez Canal Economic Zone, designed to develop into a key regional logistics hub.
In bilateral talks, Abdelatty and Minister Kombo discussed enhancing cooperation across multiple sectors, reflecting on the enduring relationship between their nations. He referenced the positive outcomes from previous meetings, including the signing of several MOUs in diplomatic training and tourism.
Abdelatty expressed the growing interest of Egyptian investors in Tanzania, noting substantial investments and a robust presence of Egyptian companies in the country. He further highlighted intentions to augment investments in infrastructure and agriculture, reaffirming Egypt’s commitment to provide technical assistance through its development agency.
Finally, he mentioned the nearly completed Julius Nyerere Dam project as a testament to African collaboration in hydroelectric projects, reiterating Egypt’s devotion to supporting development within the Nile Basin region.
The Egyptian-Tanzanian Business Forum represents a significant step towards fortifying bilateral economic relationships, fostering investment opportunities, and encouraging collaborations across multiple sectors. With a focus on agricultural projects, infrastructure investment, and technical assistance, both Egypt and Tanzania aim to enhance their economic cooperation and promote development. The commitment to the Julius Nyerere Dam project exemplifies the potential for successful collaboration within the African context.
Original Source: www.dailynewsegypt.com
