The UAE and Egypt announced the strengthening of economic relations

According to Amac News: In the announcement of the Ministry of Economy of the UAE, it is stated that in this meeting, they discussed strengthening the relations between the two countries and international cooperation.
According to the announcement, the purpose of this dialogue was to strengthen the economic partnership between the UAE and Egypt in various sectors, including the new economy, transportation, entrepreneurship, infrastructure, circular economy, agriculture and industry.
This meeting was held on the sidelines of Bin Touq Company in the 114th meeting of the Arab Economic and Social Council. The meeting of the Council, which was held at the headquarters of the Secretariat of the League of Arab States in Cairo, was held under the presidency of the UAE.
The Minister of Economy of the UAE emphasized the strong strategic relations and deep fraternal ties between the UAE and Egypt, which are characterized by the flourishing of cooperation and participation in various sectors.
The UAE is committed to strengthening joint efforts with its partners in the Egyptian government to strengthen economic cooperation and create new projects that align with the future visions and aspirations of both nations."
He emphasized that the recent partnership agreement between the two countries for the Ras al-Hikmah development project is a turning point in the growth of economic relations and the strengthening of mutual investment flows, especially considering that this is the largest foreign direct investment in the history of Egypt.
Bin Touq's meeting with Al-Wazir discussed the strengthening of cooperation in various projects related to infrastructure, logistics centers and industrial sectors in both countries.
The two ministers exchanged insights and knowledge about effective policies and strategies to facilitate the transition to a circular and green economy in order to use the collective capacities and resources of the two countries to achieve this transition.
The meeting also discussed strengthening bilateral cooperation in advanced technologies and applied innovations in the development of airport infrastructure, apart from initiatives and strategies to boost the growth of industrial clusters that act as catalysts for economic growth and sustainable development.
The two sides discussed sharing expertise in international cooperation and development funding to foster joint initiatives that create new growth opportunities and strengthen communication channels between the UAE and Egyptian business communities.
The UAE is the largest Arab investor in Egypt and the third largest investor in the world.
Bin Touq explained the fundamental pillars of the vision of "We UAE 2031", which aims to position the country as a global hub for the new economy by the next decade.
The Minister of Economy invited two Egyptian ministers to participate in the fourth edition of Investopia, which is scheduled to be held in February 2025.
The event will serve as a key platform to explore the promising opportunities that the UAE offers to global investors.