The Egyptian-Tanzanian Business Forum, inaugurated by top officials from both nations, aims to enhance economic ties and investment opportunities. Key industries such as construction, agriculture, and pharmaceuticals were highlighted as areas for cooperation. The forum underscores Egypt’s industrial strengths and its commitment to fostering partnerships with Tanzanian businesses. Ministers Abdelatty and Kombo also discussed technological assistance and development projects, contributing to a stronger bilateral relationship.
The Egyptian-Tanzanian Business Forum was recently inaugurated in Cairo by Egypt’s Minister of Foreign Affairs and Immigration, Badr Abdelatty, alongside Tanzania’s Minister of Foreign Affairs and East African Cooperation, Mahmoud Thabit Kombo. This event aims to enhance the economic relationship between the two nations by bringing together key business leaders and officials from various thriving industries.
The forum saw participation from prominent Egyptian business figures and high-level Tanzanian delegations representing vital sectors such as construction, agriculture, and pharmaceuticals. Minister Abdelatty emphasized Egypt’s dedication to forging stronger economic bonds with African countries, encouraging Egyptian firms to actively pursue partnerships that promote mutual growth.
He illustrated the capabilities of Egypt’s robust industrial sector and urged Tanzanian business leaders to explore potential collaborations with Egyptian companies, particularly in sectors like agriculture and trade. Abdelatty highlighted the attractiveness of Egypt’s industrial landscape, which offers significant investment incentives tailored to Tanzanian needs.
In addition to investments in agriculture, the Minister outlined Egypt’s manufacturing strengths across various sectors, including food and chemical industries. He drew attention to Egyptian companies’ involvement in infrastructure projects across Africa, enhancing the appeal of partnerships in Tanzania.
Abdelatty also commented on existing trade agreements, such as the COMESA agreement, and the Egyptian government’s plans to facilitate foreign investment through improved access to market information. Opportunities within the Suez Canal Economic Zone were also presented as a vital investment avenue.
During bilateral discussions, Ministers Abdelatty and Kombo reflected on the strong historical ties between Egypt and Tanzania. They also recognized advancements made since the Egyptian President’s visit in 2017, resulting in several Memoranda of Understanding aimed at enhancing cooperation in various fields.
The growing interest of Egyptian investors in Tanzania was also acknowledged, with approximately $1.36 billion in Egyptian investments noted. Minister Abdelatty reaffirmed Egypt’s commitment to bolster investments in Tanzanian infrastructure and sectors such as agriculture and fisheries, along with providing ongoing technical assistance.
Lastly, he spotlighted the significant progress made on the Julius Nyerere Dam project, expressing commitment to fostering development within the Nile Basin through enhanced cooperation.
The Egyptian-Tanzanian Business Forum highlights Egypt’s commitment to strengthening economic ties with Africa through investment and collaboration. Minister Badr Abdelatty’s emphasis on Egypt’s industrial capabilities and partnership opportunities underscores the growing interest among Egyptian investors in Tanzania. The forum serves as a pivotal moment for both nations to expand their economic frontiers, particularly in agriculture, infrastructure, and manufacturing, paving the way for mutually beneficial initiatives and projects.
Original Source: www.dailynewsegypt.com
