Uzbek, African banks sign agreement worth $50M
Baku, Azerbaijan, Sept. 5
The National Bank for Foreign Economic Activity of Uzbekistan and the African Export-Import Bank (Afreximbank) signed an agreement on cooperation worth $50 million.
The agreement envisages cooperation with Afreximbank in trade finance, as well as the opening of credit lines to finance the export of goods and services from Egypt and other African countries to Uzbekistan, National Bank for Foreign Economic Activity of Uzbekistan said Sept. 5.
According to the message, the signed agreement will strengthen bilateral cooperation and promote the development of trade and investment ties of Uzbekistan with Egypt and African countries.
Presently, Uzbekistan mainly exports textile products, food, transport and tourism services, while Egypt exports pharmaceutical products, agricultural products, household chemicals.