Page 470 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/17/24, 4:27 PM UAE, Egypt strengthen economic ties in key sectors
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 countries into consideration.

The two sides deliberated on sharing expertise in international collaboration and development
funding to foster joint initiatives that create new growth opportunities and strengthen
communication channels between the UAE and Egypt's business communities. The UAE is the top
Arab investor in Egypt and the third largest globally.

Bin Touq elaborated on the fundamental pillars of the 'We the UAE 2031' vision, which aims to

position the country as a global hub for the new economy by the next decade. It aligns with the
forward-thinking vision of the country's wise leadership and is supported by an array of policies and
legislative amendments adopted by the UAE government. These include the development of a
robust economic legislative framework, the launch of pioneering initiatives and programmes to

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