The UAE and the Arab Republic of Egypt have announced that they will be organising a major celebration in Cairo, under the slogan “Egypt and the UAE… One Heart”, from 26th to 28th October, to mark the 50th anniversary of the UAE-Egypt relations.The 3-day event will be attended by ministers and officials from the UAE and Egypt, and around 1,800 Emirati and Egyptian personalities, including politicians, senior officials, businessmen, intellectuals, creators, media professionals and public figures.
Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, said, “The UAE-Egypt historical relations represent a distinguished model for the bilateral relations between Arab countries based on integration and common interests. These strong ties are not limited to the diplomatic and leadership level only, but also includes the peoples of the two countries.”
He added, “The Founding Father, the late Sheikh Zayed, laid the strong bonds of brotherhood and friendship with Egypt. Today, thanks to President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Abdel Fattah El-Sisi, the bilateral relations between the brotherly countries has become stronger and more prosperous in various sectors.”
Al Gergawi said that the economic cooperation is a main pillar of the solid relations between the two countries, where the UAE tops world countries, boasting the highest value of investments in Egypt.
Al Gergawi affirmed that organising this event under the slogan of “Egypt and the UAE… One Heart” translates 5 decades of respect and cooperation between the two brotherly countries, reflecting the bonds of brotherhood and comprehensive partnership between them.
Dr. Hala H. Elsaid, Minister of Planning and Economic Development of Egypt, said that the event reflects the depth of relations between the two countries and the leadership’s keenness to deepen these strong and solid relations.
Elsaid added, “The directives of the Egyptian political leadership aims to enhance the cooperation with the UAE in all aspects, especially in the economic field. We count on the promising opportunities of cooperation between the two countries, to achieve a prosperous future for our people and build a great model of brotherly relations between Arab countries.”
She also affirmed Egypt keenness to enhance the strategic partnership with the UAE, pointing to cooperation in various fields, including government developments and establishment of integrated government service centres, as well as the government communication strategy and cooperation in the Egypt Government Excellence Award over the past years.
ElSaid continued, “There are plenty of investment opportunities between Egypt and UAE in various sectors, including healthcare, pharmaceutical manufacturing, real estate development, financial services and digital transformation, infrastructure, communications, agriculture, food processing, among other sectors.”
She went on to highlight the promising opportunities for joint cooperation between the two countries in the fields of the digital economy and green recovery.
The Economic Forum… New horizons of bilateral cooperation
The event’s agenda consists of a number of forums and sessions. The first day of the event includes the Economic Forum, which will be held in the presence of a number of ministers in the governments of the UAE and Egypt, as well as senior officials, businessmen and economists in the two countries.
The Forum will focus on the horizons of the economic and investment cooperation between the UAE and Egypt, in addition to reviewing the most prominent projects and investment opportunities in the strategic sectors that the UAE and Egypt focus on.
The forum will review distinguished success stories of Egyptian and Emirati companies in different fields.
The agenda also features a special concert entitled “Umm Kulthum in Abu Dhabi” to be organised on the first day.
Cultural and Media Forum
The second day of the event’s agenda includes the Cultural and Media Forum, which will be held in the presence of a group of intellectuals, media professionals and prominent creative personalities in the two countries.
The Forum will highlight the most important milestones in the UAE-Egypt relationship in the field of media, culture, arts, and the common history. The forum also includes a series of sessions on sports, media and cultural topics, in addition to dialogues and discussions with a number of Emirati and Egyptian diplomats, and a group of media professionals from the government and private sectors in the two countries.
UAE-Egypt economic cooperation
The volume of non-oil foreign trade between Egypt and the UAE during the period from January to May 2022 amounted to more than AED11.8 billion, (more than US$3.2 billion), with a growth rate of 11 percent compared to the same period last year.
The volume of non-oil foreign trade between the two countries during the first five months of 2021 amounted to AED10.6 billion (equivalent to about US$2.9 billion).
The non-oil foreign trade between the two countries during 2021 reached nearly AED27.7 billion (more than US$7.5 billion), with a growth rate of 7.4 percent compared to 2020.
Moreover, the value of Emirati investments in Egypt during the period from 2003 to 2019, is estimated at about US$30 billion (AED110 billion).
The UAE is Egypt’s second-largest trading partner at the Arab level, while Egypt is the fifth-largest Arab trading partner of the UAE in intra-non-oil trade and holds 7 percent of its total non-oil trade with Arab countries.
The UAE is the largest Arab investor in Egypt and the third globally, with a cumulative investment balance of more than US$28 billion (AED102 billion), with more than 1,300 Emirati companies operating in various fields and projects in Egypt, including wholesale and retail, transport, warehousing and logistics, the financial sector and insurance activities, information and communication technology, real estate, construction, tourism, agriculture and food security. Meanwhile, Egyptian companies invest more than AED4 billion in the UAE (equivalent of about US$1.1 billion), across real estate, financial, construction, wholesale and retail trade sectors.
UAE-Egypt Culture and media relations
The UAE and Egypt exchange cultural and creative relations at all levels. The UAE is keen to support culture and arts in various countries of the world, especially Egypt, where the UAE supported the Library of Alexandria by providing US$21 million. Also, Emirati-Egyptian relations witnessed the signing of 18 cultural agreements between Emirati institutions and the Alexandria Library in Egypt.