Page 454 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/17/24, 4:03 PM UAE, Egypt boost economic partnership in key sectors – The Gulf Time Newspaper
UAE, Egypt boost economic partnership in key sectors

CAIRO/WAM

Abdullah bin Touq Al Marri, Minister of Economy, held bilateral meetings with Lieutenant General Kamel El Wazir, Deputy
Prime Minister for Industrial Development and the Minister of Industry and Transport of Egypt, and Dr Rania Al Mashat,
Egypt’s Minister of Planning, Economic Development, and International Cooperation.
The discussion aimed 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.
The meeting took place on the sidelines of Bin Touq’s participation in the 114th session of the Arab Economic and Social
Council. The council meeting, held at the headquarters of the General Secretariat of the League of Arab States in Cairo, was
chaired by the UAE.
The Minister of Economy highlighted the robust strategic relations and deep fraternal bonds between the UAE and Egypt,
characterised by flourishing cooperation and partnerships in diverse sectors.
Bin Touq said, “Both countries possess significant economic resources and potential and boast strategic geographic locations
that facilitate access to numerous key markets. The economic relations between the UAE and Egypt are also continuously

evolving across different sectors.
“The UAE is committed to fostering joint efforts with our partners in the Egyptian government to enhance economic
cooperation and establish new projects that align with the future visions and aspirations of both nations.”
He emphasised that the recently signed partnership agreement between the two countries for the Ras Al Hikma development
project is a key milestone in the growth of economic ties and fostering mutual investment flows, particularly considering that it
is the largest FDI in Egypt’s history.
Bin Touq’s meeting with Al Wazir explored the strengthening of collaboration in various projects concerning infrastructure,
logistics centres, and industrial sectors in both nations.
The two ministers exchanged insights and knowledge on effective policies and strategies to facilitate the transition towards
circular and green economies to leverage the two countries’ collective capabilities and resources to achieve these transitions.
The meeting also discussed fostering bilateral cooperation in cutting-edge technology and innovation applied in the
development of airport infrastructure, apart from initiatives and strategies for fostering the growth of industrial clusters, which
serve as catalysts for economic growth and sustainable development.
Bin Touq’s meeting with Dr Rania Al Mashat examined ways to strengthen economic relations in areas of shared interest. It

explored potential financing options to facilitate the development of new joint projects, taking the development visions of both
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