Kampala — THE value of trade between Uganda and Egypt is expected to reach almost $50m (about sh108b) this year, the Uganda National Chamber of Commerce and Indutsry president has predicted.

"The trade value between the two countries in 2007 was over $29m from $9m in 2004," Olive Kigongo said during a meeting with the Egpytian delegation at Hotel Africana in Kampala on Wedenesday.

"Egypt and Uganda have deep-rooted bonds and a long history of co-operation. The two countries are members of the Common Market for Eastern and Southern Africa and are bound by the common heritage of the River Nile waters," she added.

Kigongo said the cooperation had been demonstrated in many areas.