On the sideline of the 50th anniversary of UAE-Egypt ties held in Cairo An integrated economic partnership with the participation of 4 ministers from Egypt and the UAE

The activities of the first day of the 50th anniversary of UAE-Egypt ties under the slogan of "Egypt & UAE ... One Heart" started with a session entitled "Egyptian-Emirati Relations... Integrated Economic Partnership".
The event saw the participation of H.E. Hala El-Said, Egypt's Minister of Planning and Economic Development, Eng. Ahmed Samir, Minister of Industry and Trade in the Arab Republic of Egypt, Abdullah bin Touq, Minister of Economy of the United Arab Emirates, and Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade in the United Arab Emirates.


The 50th anniversary of UAE-Egypt ties is taking place in Cairo over three days from October 26 to 28 in the presence of ministers from the governments of Egypt and the UAE.
The event is witnessing the participation of more than 1,800 personalities of senior officials, businessmen, investors, intellectuals, creators and media professionals.H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, said that the world is now facing successive shocks, noting that during the recovery period from the Covid-19 crisis, the geopolitical war began without knowing when it would end.El-Said also referred to the energy crisis, the issue of climate change and its various repercussions, the rise in commodity prices and issues of supply and supply chains, with slow growth.El-Said highlighted that the joint strategic investment platform between Egypt and the UAE is going to pump joint investments of more than $ 20 billion to implement economic and development projects.El-Said explained that within the framework of that partnership, nearly $4 billion has been achieved so far in the context of a decline in investments at the international level, as investments were made in the pharmaceutical and agricultural sectors, as well as in the fields of fertilizers and petrochemicals.El-Said pointed out that there is an ambitious plan to expand in various fields, following up that The Sovereign Fund of Egypt (TSFE) participated in the establishment of this platform, which is the investment arm of the Egyptian state and its main goal is to advance private investment.

Moreover, Dr. Hala El-Said  said that Egypt has invested heavily in the field of infrastructure to be attractive to the local and foreign private sector, in addition to the amendments that Egypt has made in legislation, announcing the increase in the authorized capital of the Egyptian Sovereign Fund from EGP 200 billion to EGP 400 billion.

For his part, Eng. Ahmed Samir, Minister of Trade and Industry, stressed that the recent global crises that have negatively affected the global economic system have prompted Arab countries to promote integration efforts in anticipation of a further slowdown in global supply chains.Samir said that the integrated industrial partnership initiative between Egypt, the UAE and Jordan was launched last May, and the Kingdom of Bahrain recently joined it, with the aim of enhancing cooperation and integration in several areas, most notably industry, investment, supply chains, agriculture, fertilizers, textiles, minerals and petrochemicals.Abdullah Bin Touq Al Marri, UAE Minister of Economy, stressed that the Egyptian-Emirati economic relations are a model for Arab and regional relations, and that the prospects for the growth of cooperation and economic partnership between the two countries seem promising at this time.Bin Touq pointed out that the evidence of this is the rise in the volume of Emirati investments inside the Arab Republic of Egypt to $ 28 billion, in addition to $ 300 billion in joint investments between the two countries.He said that the world is currently looking at the new Egyptian republic as the most promising gateway to Africa, and a clear road map for investors has been drawn up that includes promoting sustainability towards development within Egypt and Africa.Bin Touq added that Egyptian legislation is considered one of the best legislation and laws that attract businessmen, especially for the Emirati investor, and these investment laws are considered real wealth.