DUBAI / WAM
Sultan bin Saeed Al Mansouri, Minister of Economy, met with Tarek Kabil, Egyptian Minister of Trade and Industry, to discuss ways of consolidating existing economic partnerships between the UAE and Egypt, and overcoming the various challenges facing investors and businessmen, as part of efforts to promote mutual economic and trade interests and relations.
During the meeting, which was held in the ministry’s office in Dubai, the two ministers also reviewed Egypt’s economic developments and the short-term and long-term plans set by the Egyptian government to enhance the country’s business environment, which includes removing procedural obstacles related to foreign investment.
Al Mansouri and Kabil also discussed existing UAE investments in Egypt, and agreed to coordinate a date to hold a UAE-Egypt economic committee, and a joint businessmen forum later this year, to highlight targeted sectors, enhance cooperation, and review challenges.
Speaking during the meeting, Al Mansouri said that despite the current economic challenges facing Egypt, the Egyptian market contains many promising investment and tourism opportunities, stressing the need for continuing to work together to find solutions, and to address and overcome any challenges facing investors.
The UAE minister went on to express his optimism for improving economic conditions in Egypt, particularly in light of the Egyptian government’s encouraging and steady strides towards strengthening its business and investment environment.