Egypt, Uganda discuss ways to activate cooperation

CAIRO – 12 May 2018: Head of Egypt’s Industrial Development Authority (IDA), Ahmed Abdel-Razek, received on Saturday an official delegation from Uganda, headed by the Executive Director of the Uganda Investment Authority, Jolly Kaguhangire, to discuss the activation of the memorandum of Understanding (MoU) that Egypt and Uganda signed recently.

At the end of the meetings of the Egyptian-Ugandan joint committee held last week in Cairo, Trade Minister Tarek Kabil signed a MoU with the Ugandan side to cooperate in the field of construction and management of industrial zones.

During the meeting, both sides discussed the start of the implementation of the MoU that aims to enhance economic cooperation between Egypt and Uganda, Abdel-Razek said.

During Ugandan President Yoweri Museveni’s visit to Egypt last week, where he met with President Abdel Fatah al-Sisi, both presidents saw the signing of three MOUs in the fields of electricity, agriculture and industrial zones.

Museveni’s two-day visit came on an invitation by Sisi and it aimed to discuss ways to promote bilateral relations, in line with Egypt’s keenness to coordinate and cooperate with its brotherly African countries in different fields.

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 last week.

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.