Egypt invests $826 mln in the Emirati market: Al Wakil

The Egyptian investments in the Emirati market has increased to $826 million, Ahmad Al Wakil the head of Egyptian Chambers of commerce.

He made these remarks during the first session of the Egyptian-UAE joint economic committee. The meeting aimed at promoting cooperation in the fields of industry, agriculture, customs and investments.

Egyptian-UAE committee stems from both countries’ keenness on fostering bilateral trade and economic cooperation relations, a move that is expected to bring about a qualitative leap on the commercial and investment levels.

He added that the commercial relationship between the two countries in regard to commodity trading  has exceeded $3.2 billion.

The UAE has ranked in the top list of the countries investing in Egypt with 868 companies and total value of $6.2 billion, Al Wakil noted .