Egypt’s Foreign Minister Sameh Shoukry and his Brazilian counterpart, Ernesto Araujo, discussed on Monday ways to encourage more cooperation between the private sectors in both countries as well as the latest in the GERD dispute.

Shoukry and Araujo urged during a video conference cooperation between private sector companies in agriculture, medical and pharmaceutical research, as well as science and technology, the Egyptian foreign ministry said in a statement.

They also agreed on enhancing commercial relations and investments between Egypt and the Mercosur, the South American trade bloc.

The two ministers also affirmed the need for cooperation between the two countries within the framework of the projects that Egypt is implementing in Africa in order to achieve the “common good” for African countries.

They also discussed the latest in the dispute over the Grand Ethiopian Renaissance Dam, the statement noted.

Shoukry stressed to his Brazilian counterpart Egypt's insistence on the need to reach a legally binding agreement on the filling and operating of the Ethiopian dam through engaging in serious talks “without procrastination.”

During the meeting, the two ministers also highlighted the strong relations Egypt and Brazil share at various levels, expressing keenness to intensify bilateral coordination on regional and international issues of mutual concern.

In 2018, trade exchange between Egypt and Brazil stood at $3.34 billion,according to a report released by the Egyptian Commercial Service (ECS).

In the same year, Egyptian exports to Brazil reached $260 million while Brazilian exports to Egypt stood at $1.54 billion in the same year.

The Egyptian Ministry of Trade and Industry states that 600 made-in-Egypt products exported to Mercosur countries are fully exemped from taxes, as part of the free trade agreement signed between Egypt and the South America trade bloc.