The Egyptian private sector has shown more interest to invest and trade with its Tanzanian counterpart as trade between the two countries last year stood at USD50m, Egypt’s Ambassador to Tanzania, Hossam Moharam, said in Dar es Salaam.

The ambassador made the remarks at the occasion to mark Egypt’s 60th Revolution anniversary, a milestone that has changed Egypt from a monarchy to a republic on July 23, 1952.

He said Egyptian has grown to become a strong and dynamic economy, producing world class quality goods and services, making its businesses to look for investment areas in other parts of the world.

“Although the Egyptian private sector has shown an intense interest to invest and trade with Tanzania, there are also efforts to develop direct links between the NGOs in both countries,” Moharam said.

“As Egyptians we will continue to work closely together to strengthen both business and economic links as well as consolidate the bond of friendship for the mutual benefit of the two countries,” he noted.

Elaborating on bilateral relations between two countries, he said: “as for Egypt and Tanzania, our bilateral relations witnessed an unprecedented development following the visit of our foreign affairs minister in January of this year.’

During his visit, he launched a cooperation programme named “the Egyptian Initiative for Development in Nile Basin countries,” he said.

“Several programmes of cooperation reflecting the principles of African solidarity stemming from the programme, are being executed now in different fields including digging water boreholes, solar energy, agriculture, medical assistance, training and several others that keep me happily busy even during the weekend,” he added.

Meanwhile, Rajabu Gamaha, Deputy Permanent Secretary, in the Ministry of Foreign Affairs and International Cooperation has urged Tanzanian businessmen to explore business opportunities existing in Egypt so as to strength the long time relationship and cooperation that exists between the two countries and peoples.