UAE’s investments in Egypt exceed $7bln, minister

The United Arab Emirates (UAE) investments in Egypt exceed $7bn in different projects, with additional $7bn worth memorandum of understanding signed between the two countries, according to Minister of Trade and Industry Nevine Gamea.

She added that the UAE is one of the top investors in the Egyptian market.

The UAE market annually receives about 11 percent of Egypt’s total exports, she added during the first meeting of the Joint Egyptian-UAE Business Council.

The Minister pointed out that the size of cooperation between Egyptian and Emirati companies in fields of contracting, power stations, airport development, and other economic activities, exceeded $1bn.

She stressed the importance of the Egyptian-UAE Business Council in defining and overcoming challenges that companies may face in the two countries.