ABU DHABI: The discussions highlighted the strength of the bilateral ties and a common desire to boost it further. It was decided to hold the joint committee meeting as an annual event.
The two sides also held a roundtable meeting, the first of its kind for the chief executive and investors from UAE and Egypt, organised by UAE International Investors Council and the Federation of Egyptian Chambers of Commerce, with the participation of more than 40 major investors, businessmen, leaders from sectors like renewable energy, agriculture, aviation, Information Technology, telecommunications, tourism and hospitality.
HE Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said that the UAE and Egypt enjoy a prefect strategic relationship based on political, economic, social and cultural ties, and affirmed the need to unite for the common prosperity and sustainable development of both nations.
He added that Egypt is a strategic trade partner of the UAE in the region, and the UAE is the Egypt’s top 10 trade partner worldwide. The total volume of non-oil trade exchange between the both countries recorded about $3.6 billion in the first nine months of 2017 and touched around $4.8 billion at the end of 2016, growing by 11 per cent from the previous year.
Al Mansoori added that the UAE recorded total direct investments about $6.5 billion, covering strategic economic fields such as telecommunications, tourism, financial and banking sectors, real state, infrastructure and ports, as well as agriculture, trade, food and medicine, and all the sectors vital to sustainable development.
