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UAE, Egypt to bolster trade relations

Dubai - Nations review opportunities, challenges and potential prospects of cooperation in 13 vital sectors

The Joint UAE-Egypt Economic Committee meetings was held recently in Cairo in the presence of Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Tariq Qabeel, Egypt's Minister of Trade and Industry.
The two countries reviewed opportunities, challenges and the potential prospects of cooperation in 13 vital sectors, including trade, customs, industry, technology, tourism, financial cooperation, standards and metrology, electricity, renewable energy, transportation, aviation and water resources.
The discussions highlighted the strength of the bilateral ties and a common desire to boost it further. It was decided to hold the joint committee meeting as an annual event.
The two sides also discussed the Greater Arab Free Trade Agreement and ways to activate the joint UAE-Egyptian businessmen council. The committee also discussed cooperation in the finance and taxation sectors, as well as possibilities of cooperation in the field of halal products.
The forum stressed the need to enhance customs cooperation and promote the volume of investments exchange and cooperation in the aviation sector, while strengthening cooperation in water resources management, sustainability and transportation, particularly shipping and ports. They also discussed cooperation in electricity and renewable energy sectors.
The meeting was attended by Juma Mubarak Al Junaibi, UAE Ambassador to Egypt; Eng Mohammed bin Abdul Aziz Al Shehhi, undersecretary of Economic Affairs in the Ministry of Economy; Mohammed Saleh Shalwah, advisor to the Minister of Economy for the Arab League and GCC Affairs; and Jamal Saif Al Jarwan, secretary-general of the UAE International Investors Council.
The UAE delegation included Dr Matar Al Nayadi, undersecretary of the Ministry of Energy and Industry; Hameed Mohammed bin Salem, secretary-general of the Federation of UAE Chambers of Commerce and Industry; Abdullah Abdulkader Al Ma'ini, general director of the Emirates Authority for standardisation and Metrology; and Ibrahim Obaid Al Zaabi, director-general of the UAE Insurance Authority, as well as representatives from government and private sector organisations.
This forum was preceded by a preparatory meeting of industry experts and senior officials.
The two sides also held a roundtable meeting, the first of its kind for chief executives and investors from the UAE and Egypt, organised by the UAE International Investors Council and the Federation of Egyptian Chambers of Commerce. Over 40 major investors, businessmen and leaders from sectors like renewable energy, agriculture, aviation, information technology, telecommunications, tourism and hospitality participated.
"The holding of the committee represents a valuable addition to the balance of the strong partnership between the two countries, a new development level according to clear vision that achieves our common interests," Al Mansouri pointed out.
He added that the UAE and Egypt enjoy a prefect strategic relationship based on political, economic, social and cultural ties, and affirmed the need to unite for the common prosperity and sustainable development of both nations.
- business@khaleejtimes.com