Page 475 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/17/24, 4:28 PM PRESSR: UAE and Egypt explore development of economic partnership in new economy, transportation, entrepreneurship, circular…
H.E. 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.” H.E. 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.

H.E. Bin Touq’s meeting with H.E. Eng. Kamel 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 in order 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.

H.E. Bin Touq’s meeting with H.E. 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

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