Trade exchange between Egypt, Uganda reaches $66M in 2017

CAIRO – 8 may 2018: Trade Exchange between Egypt and Uganda increased 27 percent year-on-year to reach $66 million, Head of the Export Development Authority (EDA) Sherine el-Shorbagy said on Tuesday.

Addressing a conference organized by the Federation of Egyptian Industries’ Cooperation with Africa Committee, Shorbagy said that the free trade agreement signed between Egypt and Uganda last month is expected to boost cooperation between both countries by 50 percent by 2020.

Head of the Africa Committee Sherif el-Gabaly said that a visit by an Egyptian delegation of 25 businessmen to the Ugandan capital will be organized after the month of Ramadan to explore investment opportunities.

Last month, a similar delegation visited Uganda and it was a success, according to Gabaly.

President Abdel Fatah al-Sisi is set to meet with his Ugandan counterpart, Yoweri Museveni, at Al-Ittihadiya Presidential Palace on Tuesday.

During the meeting, a number of agreements will be signed between Egypt and Uganda to promote the bilateral cooperation in the fields of agriculture, industry, electricity and renewable energy, according to Ambassador Bassam Radi, presidency spokesman.

During a press conference on Monday, Minister of Foreign Affairs Sameh Shoukry said that the Egyptian private sector is willing to increase its investments in Uganda.

He referred to an Egyptian company that is conducting a study to establish several projects, estimated as $300 million, in the fields of electricity and energy.