Tashkent, Uzbekistan (UzDaily.com) -- On the eve of the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Egypt, Cairo hosted the Uzbek-Egyptian business forum. The leadership of the Uzcharmsanoat Association also took part in the government delegation of Uzbekistan and held a series of negotiations with leather and footwear companies and investors in this country.

During the forum, a meeting was held between the Uzcharmsanoat Association and the Egyptian company Al-Rowad, where detailed information was provided on the production and export potential of the leather and footwear industry of our country, the investment environment, and the raw material base. The presentation also included customs and tax benefits provided by the state for companies engaged in the industry, transport and logistics opportunities.

Al-Rowad was founded in 1920 in Cairo, Egypt. For more than 95 years and in the fourth generation, the company has been producing quality buffalo leather products. The company offers high quality, reliable products and innovation. The company’s annual sales are US$4 million.

It should be noted that today the two countries occupy an equal position among the countries-tanners. Egypt exports 80% of its leather products to various countries of the world, including Italy, Spain, Turkey, China, India, Vietnam and others.

During negotiations with the Egyptian company BN Shaker, the issue of implementing a joint project for the production of seasonal footwear with the participation of investments from the two countries was discussed. Proposals for the export of manufactured products to the markets of African countries were studied.

For the timely and high-quality implementation of the agreements reached, the Uzcharmsanoat Association will actively cooperate with the Embassy of the Republic of Uzbekistan in the Arab Republic of Egypt and foreign partners.

During B2B negotiations within the framework of the Uzbek-Egyptian business forum, preliminary agreements were reached on the implementation of 2 investment projects for organizing the production of leather and footwear products for a total of US$15 million. For the timely launch of these projects, memorandums of understanding were signed with Al-Rowad (US$10 million) and BN Shaker (US$5 million).

Negotiations were also held on the supply of leather from Uzbekistan to the Egyptian enterprises Al-Rowad, ARC Shoes, Piel Color, Zanoon Tannery, Naser Hussien Tannery and Hawk Tannery for a total of US$3.2 million.

Egypt, which is the largest trade market and trade and economic bridge between Asia and Africa, sees Uzbekistan as a reliable partner and is interested in establishing mutually beneficial relations in the leather, footwear and fur industries, as well as developing joint projects.