Fri, Nov 08, 2024 | Jumada al-Awwal 7, 1446 | DXB ktweather icon0°C

UAE, Egypt to host major celebration in Cairo to mark 50 years of ties

Ministers, officials and 1,800 Emirati and Egyptian personalities, including businessmen and public figures, will attend the event

Published: Tue 18 Oct 2022, 7:32 PM

Updated: Tue 18 Oct 2022, 8:38 PM

Top Stories

The UAE and Egypt will organise a major celebration in Cairo to mark the 50th anniversary of bilateral relations between the two countries. Held under the slogan ‘one heart’, the three-day event will begin on October 26.

Ministers, officials and 1,800 Emirati and Egyptian personalities including businessmen, intellectuals, media professionals and public figures will attend the event.

Mohammad Al Gergawi, UAE Minister of Cabinet Affairs, said: “The UAE-Egypt historical relations represent a distinguished model for bilateral relations between Arab countries based on integration and common interests. These strong ties are not limited to the diplomatic and leadership level only, but also include the peoples of the two countries.

“The founding father, the late Sheikh Zayed, laid strong bonds of brotherhood and friendship with Egypt. Today, thanks to UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Egyptian President Abdel Fattah El Sisi, the bilateral relations between the brotherly countries have become stronger.”

Photo: Mohammad Al Gergawi

Photo: Mohammad Al Gergawi

Al Gergawi said economic cooperation is a “main pillar” of the relations between the two countries. The UAE ranks first when it comes to investments in Egypt.

He said the event is a translation of five decades of “respect and cooperation” between the two countries.

Dr Hala H. Elsaid, Minister of Planning and Economic Development in Egypt, said: “The directives of the Egyptian political leadership aim to enhance the cooperation with the UAE in all aspects, especially in the economic field. We count on the promising opportunities of cooperation between the two countries to achieve a prosperous future for our people and build a great model of brotherly relations between Arab countries.

“There are plenty of investment opportunities between Egypt and UAE in various sectors, including healthcare, pharmaceutical manufacturing, real estate development, financial services and digital transformation, infrastructure, communications, agriculture and food processing, among others.”

Dr Hala H. Elsaid

Dr Hala H. Elsaid

The event’s agenda consists of several forums and sessions. An Economic Forum on day one will see a number of ministers, senior officials, businessmen and economists attend. The forum will review success stories of Egyptian and Emirati companies in different fields.

On day two, a Cultural and Media Forum will be held in the presence of a group of intellectuals, media professionals and prominent creative personalities. The forum will highlight the most important milestones in the UAE-Egypt relationship in the field of media, culture, arts, and common history.

UAE-Egypt economic cooperation

The volume of non-oil foreign trade between Egypt and the UAE from January to May 2022 amounted to more than Dh11.8 billion, with a growth rate of 11 per cent compared to the same period last year.

The non-oil foreign trade in 2021 reached nearly Dh27.7 billion, with a growth rate of 7.4 per cent compared to 2020.

The value of the Emirati investments in Egypt from 2003 to 2019 is estimated at about $30 billion (Dh110 billion).

The UAE is the largest Arab investor in Egypt and the third globally, with a cumulative investment balance of more than $28 billion (Dh102 billion). More than 1,300 Emirati companies operate in various fields and projects in Egypt, including wholesale and retail, transport, warehousing and logistics, financial sector and insurance, information and communication technology, real estate, construction, tourism, agriculture and food security.

ALSO READ:



Next Story