Egypt, UAE presidents hold talks on bilateral cooperation and regional developments

CAIRO - 19 Septemer 2023: President Abdel Fattah El-Sisi of Egypt and President Mohamed bin Zayed Al Nahyan of UAE engaged in discussions to strengthen their bilateral relations and explore opportunities for enhanced cooperation.

The discussions revolved around various aspects of the Egypt-UAE partnership, with a particular focus on economic ties, investment opportunities, and development ventures aimed at benefiting both countries.

During the meeting, President El-Sisi and President Al Nahyan emphasized the importance of the longstanding relationship between Egypt and the UAE. Notably, the year 2023 marked 50 years of their diplomatic ties.

Recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS), revealed a significant surge in UAE investments, with an estimated value of approximately $5.7 billion during the fiscal year 2021/2022. This figure represents a substantial increase compared to the previous year, where investments stood at around $1.4 billion, resulting in a remarkable spike of $4.3 billion. This surge translates to an impressive growth rate of about 300.8 percent.

The discussions also encompassed strategies to reinforce bilateral ties across multiple domains. Both leaders expressed their commitment to revitalizing economic cooperation, expanding joint investments, and boosting trade exchange. Moreover, they explored avenues for collaboration in various developmental fields, aiming to advance the shared interests of the Egyptian and Emirati peoples. The meeting served as a platform to discuss potential areas of cooperation that could further deepen the bond between the two nations.

The talks between President El-Sisi and President Al Nahyan underscored the mutual desire to foster stronger relations and reap the benefits of their strategic partnership. With a focus on economic cooperation, investment, and development, Egypt and the UAE are poised to embark on a new chapter of collaboration that will contribute to the prosperity and progress of both countries and their people.