UAE council, Egypt’s EEBC ink pact to enhance cooperation

CAIRO / WAM

The UAE International Investors Council (UAEIIC) has signed a memorandum of understanding (MoU) with the Egyptian-Emirati Business Council (EEBC) to enhance the existing investment partnerships.
The MoU also aims at creating more investment opportunities in the sectors of the new economy, green projects, recycling, clean projects, the technological sector, new digital technologies and other areas of common interest to the business communities between the two countries.
Concluded in Cairo in the presence of the members of the Egyptian-Emirati Business Council, the MoU was signed by Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council, and Gamal Sadat, Chairman of the Egyptian-Emirati Business Council.
According to the MoU, the two parties will cooperate to develop and implement various initiatives with the aim of facilitating cooperation and exchange of visions and experiences and arrange direct business meetings between companies and other initiatives with the aim of stimulating new investment opportunities and supporting the business system in both countries.
The memorandum also aims to prepare for the formation of a comprehensive system of databases, consultations, and statistical information on the Egyptian and UAE markets, and to be a nucleus to create more partnerships between the business communities and private sector companies from both sides, build their capabilities and encourage bilateral and multilateral investment.
In this regard, Al Jarwan said, “We are honoured to cooperate with the Egyptian Business Council headed by Gamal Sadat, in an important step that will open new doors to enhance cooperation, and that this memorandum serves the interests of members, aspirations and common visions. The coming will see greater activity in cooperation between the two councils, including joint initiatives, conferences and promotional tours.”
El Sadat praised the role played by the UAE Council for Foreign Investors to support and strengthen Egyptian-Emirati relations in general and economic relations in particular, stressing that the Egyptian market is currently witnessing many golden opportunities that investors are looking for.
The memorandum, he added, is a framework for long-term cooperation to open new fields and create more investment opportunities, which will reflect positively on the economic relations between the two countries, especially as the council plays a key role in enhancing the leadership of UAE investments and contributes to exploring high-potential investment areas.
The two councils will organise joint initiatives, conferences and roadshows with the UAE, in accordance with the MoU, and provide each other with sufficient information on their planned initiatives, conferences, webinars and reports that serve both parties to exchange experiences in emerging markets and innovative ideas on how to help the private sector address most pressing challenges of development.