UAE’s Deputy Ambassador to Egypt Saleh al Saadi said Cairo-Abu Dhabi relations have seen a significant boost since President Abdel Fattah El Sisi took office in 2014, noting that since then mechanisms of coordination and consultation between both countries have maximised.
Saadi made the remarks as part of a speech he delivered at the Golden Jubilee of Egypt-UAE Ties Conference, organized by Ain Shams University’s Middle East Research Centre (MERC).
Relations between Egypt and the UAE have witnessed great, qualitative development over the past years in several major sectors, especially economy and trade, the diplomat said.
“This led to an increase in the volume of trade to record levels,” he added.
The UAE is the world’s biggest investor in Egypt with 1,250 companies working in the Egyptian market in all economic sectors, he noted.
He also pointed out that Emirati investments in Egypt are likely to increase due to the high return on investment, in addition to the successes achieved by the Egyptian economy despite the coronavirus pandemic and the Russia-Ukraine crisis thanks to the country’s economic reform programme.
The diplomat noted that two countries are also linked by long-standing cultural and media relations that had been established prior to diplomatic ties.
