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Gamea, UAE ambassador discuss boosting joint economic cooperation
7 March 2022  -  Organization :  -  Sector/Entity :  -  Category : General

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The meeting has discussed further expanding commercial, industrial and investment cooperation between the two countries.

Cairo- Mar 7, 2022

Minister of Trade and Industry Nevine Gamea has received UAE Ambassador to Egypt Maryam Khalifa al-Kaabi to discuss the latest economic developments at the regional and global levels, as well as explore ways to further expand commercial, industrial and investment cooperation between the two countries during the next period.

The minister emphasized the need to unify efforts by both governments to provide the needs of their respective markets in light of the current challenges, and translate the distinguished relations between them into tangible cooperation projects that serve the interests of the two economies.

“There are ample investment opportunities for the Emirati business community in the local market, notably in the fields of textiles, leather, furniture and handicrafts,” Gamea said, stressing the importance of strengthening cooperation between the two countries in terms of expanding and diversifying supply chains and overcoming the challenges of logistic transport.

Al-Kaabi, for her part, pointed out that the UAE can well be a hub for exports of joint Egyptian- Emirati projects to the markets of the Gulf and Southeast Asian countries, and Egypt a gateway for Emirati products to Africa, especially under the African Continental Free Trade Agreement (AFCFTA).

Moreover, she praised the unique Egyptian participation in Expo 2020 Dubai, noting that Egypt Pavilion has been one of the most-visited in the Expo.

According to official data, Egyptian exports to the UAE amounted to $1.196 billion in 2021, mainly including building materials, engineering and electronic products, food industries, agricultural crops, medical industries, ready-made clothes, and furniture.

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