13.3 billion dirhams trade exchange between the UAE and Egypt

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Shaaban Bilal (Cairo)

Egyptian-Emirate relations experienced remarkable development at all levels, especially economic and trade cooperation, as the volume of trade exchanges in 2021 amounted to about $ 3.623 billion (13.3 billion dirhams).
Economists said that this phase of the Egyptian-Emirati strategic relations requires intensification of economic and investment cooperation between the two countries in productive projects, underlining the availability of good investment opportunities in Egypt.
They added that the investment climate in Egypt has become attractive after its development over the last 7 years. An Egyptian delegation led by Egyptian Prime Minister Mostafa Madbouly and consisting of 4 ministers, officials and businessmen has been visiting the United Arab Emirates since yesterday to discuss co-operation opportunities and attract Emirati investment to Egypt.
The Egyptian economic expert, Mohamed Anis, stressed that the Egyptian-Emirati relations are rooted between the two peoples as well as at the political level, and have witnessed an unprecedented boom, pointing to the importance of strengthening these ties through intensification of cooperation on economic level, which has also witnessed great development in recent times.
He explained that this phase requires investment cooperation between Cairo and Abu Dhabi to establish new productive projects that help increase the Egyptian national product, create job opportunities and increase Egyptian tax revenues, in addition to the need for these projects to target exports, not only the local market.
The Egyptian economic expert pointed to the existence of promising investment opportunities in Egypt and stressed that the Egyptian market is qualified to attract these investments due to the availability of all requirements for the success of investment projects, such as facilitating procedures and providing land for the targeted. projects, an abundance of labor and infrastructure requirements such as electricity, roads and seaports.
The Egyptian government is working to create a business environment to attract more foreign investment to the Egyptian market, especially Emirati investment.
The Egyptian economic expert, Mohamed Maher, stressed that in recent years since 2013 has witnessed great support from the Emirates to Egypt, explaining that this phase requires continuous and sustainable investment.
He added that in recent years Egypt has been working to establish an infrastructure of roads, electricity and energy and to provide logistics through ports and fast and high-speed transport, providing an attractive climate for foreign investment.
The economist pointed out that the United Arab Emirates has financial surpluses and it has increased with the improvement of oil prices that can be invested in Egypt, especially as Cairo, its current situation, is more secure for these investments and closer to culture, geography and other factors.