The General Federation of Chambers of Commerce held an extensive meeting with Minister of Livestock, Agriculture, and Fisheries of Uruguay Fernando Mattos and his accompanying delegation to discuss strengthening and promoting trade relations and joint investments between the two countries.
It was agreed to immediately start holding virtual joint business forums between businessmen in the two countries to find out all available opportunities for developing bilateral trade between the two countries, in preparation for organizing an Egyptian economic mission visit to Uruguay to discuss increasing the volume of trade exchange between the two countries.
Mattos said that his country is looking forward to implementing economic development programs similar to that of Egypt, pointing out that the Egyptian economy is the strongest and most attractive for direct international investments in the Middle East and Africa.
On his part, Ibrahim Mahmoud El-Araby, President of the General Federation of Chambers of Commerce said on the sidelines of businessmen’s meeting that Egyptian imports from the Uruguayan markets have doubled during the past three years, reaching $71.6 million in 2020 compared to $18 million only in 2018.
However, Egyptian exports declined, estimated at about $20 million during 2020, noting that the most important Egyptian exports to the Uruguayan markets are concentrated in fertilizers, electrical appliances and food preparations, while the most important Egyptian imports are concentrated in oil seeds, dairy products and wool.
El-Araby added that the exchange of joint commercial missions at the present time will have a great impact on the joint commercial relations to serve the economic interests of the two countries.
The meeting was attended by Adriana Lesedini, the Uruguayan ambassador in Cairo, Mohamed Al-Masry, vice president of the General Federation of Chambers of Commerce, and members of the export and import pisions of the federation.
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