Egypt, UAE advance talks on strategic economic partnership

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi to advance negotiations on a strategic economic partnership, the Egyptian Cabinet said in a statement Thursday.

The Egyptian minister outlined recent reforms aimed at attracting more foreign investment, including legal changes to simplify procedures and a broader agenda of financial, monetary, and trade reforms designed to ease the burden on businesses and boost trade flows.

He said the government was working to raise foreign direct investment and increase exports through initiatives such as automating customs procedures, reducing non-tax financial charges, unifying collection agencies, and shortening customs clearance times.

Minister El-Khatib praised the UAE’s existing investments in Egypt and called on Emirati companies and authorities to expand their presence. He pledged to provide support and remove any obstacles in cooperation with relevant Egyptian institutions.

He also highlighted sectors with strong investment potential for UAE firms, including tourism, manufacturing, agriculture, ports, logistics zones, railway projects, designated investment zones, and the energy sector.

Al Zeyoudi said the UAE was committed to strengthening economic ties with Egypt and emphasised the importance of commercial and industrial integration at both the bilateral and wider Arab levels.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser