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Egypt & UAE discuss bilateral cooperation and regional developments

The meeting discussed ways to strengthen bilateral relations at various levels, especially with regard to revitalizing economic cooperation.

By: Business Today Egypt

Tue, Sep. 19, 2023

Egypt’s President Abdel Fattah El-Sisi and UAE’s President Mohamed bin Zayed Al Nahyan discussed bilateral relations and ways to boost cooperation.

Both presidents also discussed UAE-Egypt ties, particularly in the economic, investment, and development areas, as well as promising opportunities to expand bilateral cooperation to further serve the interests of the two countries and peoples.

The meeting also discussed ways to strengthen bilateral relations at various levels, especially with regard to revitalizing economic cooperation, joint investments and trade exchange, in addition to enhancing cooperation in many development fields to achieve the interests of the two brotherly peoples.

Egypt and the UAE share a long-standing history of strong ties, in 2023 Egypt and the UAE celebrated 50 years of relations.

The value of UAE investments in Egypt witnessed a hike, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS) as it was estimated at about $5.7 billion during the fiscal year 2021/2022, while it was about $1.4 billion during the year 2020/2021, an increase amounting to $4.3 billion dollars, and an increase rate of about 300.8%.