Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song

Egypt-UAE trade exchange continuously increasing: UAE min.

By: MENA
Thu, Jun. 13, 2019
WASHINGTON - 13 June 2019: Relations between Egypt and Emirates have always been distinguished throughout the past decades, said UAE Minister of Economy Sultan bin Saeed Al Mansoori.

Trade exchange between the two countries has been steadily increasing, the minister added in statements to MENA on the fringe of his participation in the 2019 SelectUSA Investment Summit, currently taking place here.

Minister Mansoori pointed out to the multiple major potential investment opportunities between the two countries, stressing that Egypt is currently witnessing political stability combined with a noticeable hike in the number of tourists visiting the country.

The Emirati people are always eager to make investments in Egypt, especially in projects that contribute to creating job opportunities and achieving economic growth, the minister noted.

He added that the UAE is working in cooperation with some countries and international blocs like the European Union, Japan and the US towards creating a strong industry in Egypt.

The medium and heavy industry sectors are envisaged to play a key role in attaining further economic growth in Egypt, Mansoori said, noting that the African market represents a promising opportunity for Egyptian products.

Meanwhile, UAE International Investors Council (UAEIIC) Secretary General Jamal Saif Al Jarwan described the Egyptian-UAE relations as profound and time-honored especially when it comes to investment and trade ties that have been maintained since the formation of the UAE in 1971.

He hailed Egypt's security stability that has vitally contributed to improving its investment environment.

The recently-adopted upgrades and amendments to Egypt's legal system, most notably the new investment law, represent key steps towards luring many investments from Europe and Arab countries, especially from the UAE to the Egyptian market, Jarwan noted.
 
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