Thani bin Al Zeyoudi, Minister of State for Trade in the UAE, revealed the country’s plan to increase the volume of trade exchange with Egypt to 100bn dirhams during the next 10 years. It is currently estimated at 23.1bn.
In a statement to Daily News Egypt on the sidelines of the celebration of the 50th anniversary of Egyptian-Emirati relations, he added that the UAE aims to increase its investments in Egypt and is considering several investment opportunities in Egypt through Abu Dhabi’s ADQ.
He pointed out that the UAE plans to pump additional investments into the Egyptian real estate sector through Emirati companies operating in Egypt during the coming period.
In his speech at the ceremony, Bin Zayed added that investments are pumped through the Emirati Emaar and Aldar companies, in addition to other companies operating in Egypt.
He pointed out that the economic and trade relations between Egypt and the UAE are a model for Arab and regional relations, noting that the Emirati-Egyptian partnership is witnessing remarkable growth in trade exchange, and a significant increase in the volume of mutual investments, in a way that reflects the special nature of the joint relations between the two countries.
He added that the non-oil foreign trade between the two countries during the first five months of 2022 amounted to more than 14.1bn dirhams, with a growth rate of 6% compared to the same period in 2021, while the non-oil foreign trade between the two countries during 2021 amounted to approximately 27.8bn dirhams.