Sisi, Vázquez call for expanding bilateral trade and investments

CAIRO – 31 May 2017: President Abdel Fatah al-Sisi and Uruguayan President Tabaré Vázquez stressed the importance of expanding trade relations and encouraging bilateral investments between the two states, in a press conference held Wednesday.

The press conference followed a meeting between Sisi and Vazquez at the Presidential Palace in Cairo, marking the Uruguayan president’s first visit to Egypt since he assumed his position in 2015.

Sisi praised the remarkable relations between the two countries, stressing his anticipation to expand bilateral cooperation between Egypt and Uruguay on all levels.
He called for Uruguayan investors and businessmen to benefit from the investment opportunities in Egypt, especially the development of the Suez Canal.

Vazquez referred to Egypt and Uruguay’s common vision before the UN Security Council, in terms of human rights protection, war crisis and peacekeeping forces, referring to a strong friendship relation between the two states in different fields.

“There should be a trade delegation in the next visit, which will contribute to expanding trade relations,” Vazquez said, calling for the Egyptian companies and businessmen to join the bilateral meetings with the officials of the two states.

According to Vazquez, the two presidents agreed on the necessity to apply the Free Trade Agreement (FTA) with the Common Market of South America (Mercosur), of which Uruguay is a permanent partner.

The agreement signed in 2010 aims at cutting tariffs by over 90 percent between Egypt and the Mercosur countries, as well as cancelling customs duties on agricultural goods and promoting cooperation in investment, services and other fields.

“We welcome all Egyptian businessmen to visit Uruguay,” Vazquez stated referring to the important facilitations and the diverse agenda that paves the way for investors in Uruguay.

Vazquez also invited the Egyptian president to visit Uruguay.

For more information about the history of Egypt-Uruguay relations,

check Egypt Today’s overview.