Uzbekistan, Egypt sign contracts totaling $1.6 bln - media

TASHKENT. Feb 21 (Interfax) - Uzbek President Shavkat Mirziyoyev, who arrived in Egypt on an official visit on February 20, praised the conclusion of contracts worth $1.6 billion at an Uzbek-Egyptian business forum while meeting with members of the Egyptian business community, official Uzbek media reported on Tuesday.

"Our head of state highly praised the results of an Uzbek-Egyptian business forum held yesterday, at which practical understandings were reached on implementing over 20 agreements and contracts worth in total $1.6 billion," the media said.

The meeting participants mentioned huge potential in bilateral relations and great opportunities for boosting business ties and contacts, ramping up mutual investments, and expanding trade between Uzbekistan and Egypt, they said.

"Our leader underscored an important role that the business communities of the two countries play in building modern and robust cooperation bridges, citing as an example the restoration of the route of the Great Silk Road that prospered in the past," it said.

Mirziyoyev called on Egyptian companies to join ambitious investment programs in Uzbekistan. Major Egyptian investors said they view Uzbekistan as a bridge to reach Central Asian markets.

In conclusion of the meeting, the parties decided to adopt a common roadmap to facilitate the practical implementation of joint projects and promote trade and investment cooperation, as media reported.

Mirziyoyev is on a two-day visit to Egypt, where he is to hold top-level negotiations aimed, in particular, at promoting Uzbek-Egyptian relations. The parties plan to issue a joint statement and sign a number of bilateral documents at the summit.