11 billion dirhams non-oil trade between the UAE and Egypt in 6 months

The Ministry of Economy stated that the total non-oil trade exchanges between the UAE and Egypt recorded three billion dollars (about 11 billion dirhams) during the first half of this year, expected to reach, according to estimates, to six billion dollars (about 22 billion dirhams) by the end of the year 2019.

The Undersecretary of the Ministry of Foreign Trade, Abdullah Al Saleh, said during the Egypt-Emirates Forum for Trade and Investment that its activities were launched in Cairo yesterday, with the participation of 250 officials and investors from both countries, that the UAE ranked first among the group of Arab countries in terms of Egyptian exports to it with a total It amounted to about two billion dollars (7.3 billion dirhams), accounting for 21% of the total Egyptian exports to the group of Arab countries.

On the level of mutual investments, the UAE ranked first among the countries investing in Egypt with a total direct investment balance of more than $ 15 billion (about 55 billion dirhams), reflecting the activity of more than 900 Emirati companies investing in Egypt until the end of 2018.

Al Saleh pointed out that, in return, Egypt ranks 29th among the countries investing in the UAE, and the seventh in the group of Arab countries, with a total direct investment balance approaching one billion dollars at the end of 2017.

For his part, the Egyptian Minister of Trade and Industry, Dr. Amr Nassar, stressed during his speech at the forum, the existence of many opportunities for industrial cooperation between the UAE and Egypt, pointing to the importance of studying ways to establish industrial partnerships and bring them out to regional markets, particularly African markets that hold promising and emerging opportunities, In addition to entering into new and atypical markets in line with the orientations and vision of the two countries.

It is noteworthy that the Egypt Emirates Forum for Trade and Investment is the largest investment grouping between the two countries, in the presence of a group of senior officials, heads of companies and representatives of the private sector in both countries. The forum was co-organized by the Ministry of Economy, the Emirates Council for Overseas Investors and the Egyptian-Emirati Business Council.

900

Emirati company invested in Egypt until the end of 2018.