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Contribution to new Suez Canal hailed

Cairo - Dr Sultan bin Ahmed Sultan Al Jaber said the relationship between UAE and Egypt evolved over time to become one of the most important bilateral relations that the UAE shares with another country.

The relationship between the UAE and Egypt is based on solid foundations laid down by the late Shaikh Zayed bin Sultan Al Nahyan, a UAE minister has said.
Dr Sultan bin Ahmed Sultan Al Jaber, Minister of State and Chairman of the Coordination Office of the UAE-funded Development Projects in Egypt, said the relationship evolved over time to become one of the most important bilateral relations that the UAE shares with another country.
Speaking to journalists from Emirati and Egyptian newspapers - who are in Cairo to attend the opening of the new Suez Canal on August 6 - Dr Al Jaber said the relations have continued to grow under the leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan; His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; and His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The two countries have collaborated in many fields, including exchange of knowledge and expertise, which has significantly impacted in "strengthening mutual brotherly bonds".
Dr Al Jaber said when the Egyptian economy and society began to struggle following a period of instability from late 2010 until June 2013, the UAE leadership issued directives vowing to stand by Egypt, and contribute to its stability.
The minister added that a consultation with the Egyptian government to determine urgent needs led to the establishment of the Coordination Office of the UAE-funded Development Projects in Egypt.
Economic recovery plan
Dr Al Jaber noted that the UAE also provided assistance with the preparation of Egypt's economic recovery plan, and was involved in a number of initiatives designed to stimulate the flow of foreign investments to the Egyptian market.
He said these projects created around 900,000 temporary and permanent job opportunities, and benefitted 10 million Egyptian citizens.

The UAE also contributed to mobilising economic and political support for Egypt through a number of international and regional forums.
The minister told reporters that the UAE is looking forward to the forthcoming opening of the new Suez Canal, which will have a "significant and essential role in promoting economic activity in Egypt". He called on Egyptian, Arab and international private sectors to explore the opportunities of the project.
Canal milestones
The new Suez Canal, he said, was the brainchild of President Abdel Fattah Al Sisi of Egypt, and a plan was charted out to complete the project within a year.
The plan was to increase the number of vessels to cross the important waterway from 67 to nearly 100 daily.
"The National Dredging Company of the UAE removed 200 million cubic metres of sand in nine months to deepen the new man-made canal," Dr Al Jaber said. Other milestones include the incorporation of four international companies to complete the job at a cost of $1 billion.
Dr Al Jaber stressed the importance of the new Suez Canal in consolidating the stature of Egypt as an essential contributor in the world trade and economy.
"The new canal will ... boost economic growth and stability in Egypt as well as the region and the world," he stressed.
"Thanks to the new canal, the number of vessels crossing it will rise, thus generating additional revenues for Egypt, as well as cutting short the vessels' waiting time from 11 hours to three.
"Since the canal plays a pivotal role as a strategic waterway, major seaports in the East and West have started to follow suit by improving their vessels take-in capacity in anticipation of the expected increase in the freight and goods movement."
malzarooni@khaleejtimes.com