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Between January 2022 and May 2022, non-oil trade between Egypt and the UAE exceeded AED 14.1 billion (over US$ 3.8 billion), an increase of 6% compared to the same period in 2021.
Non-oil foreign trade between Egypt and the UAE in 2021 will be around AED 27.8 billion (over US$ 7.5 billion), an increase of 7.6% from 2020.
Next Wednesday, Egypt will celebrate the 50th anniversary of UAE-Egypt relations.
According to recent indicators, an integrated industrial partnership for sustainable economic development was announced in May 2022, bringing together the two countries, except Jordan, to The industrial sector of cooperation achieves sustainable economic development. In addition, an investment fund of $10 billion will be allocated to invest in related projects.
The UAE ranks first globally among countries investing in Egypt, with the value of UAE investments in Egypt increasing to $1.9 billion in FY 2019/2020, compared to $712.6 million in FY 2018/2019, an increase of 169.1%. The value of UAE investments in Egypt between 2013 and 2021 is estimated at US$16 billion (AED59 billion).
In 2019, the UAE and Egypt launched a joint strategic investment platform worth US$20 billion for the implementation of important projects in the economic and social sectors. The UAE’s support to Egypt in 2013 and 2014 exceeded AED 51 billion (equivalent to US$ 13.9 billion) in key sectors such as education, training, housing, transportation, healthcare, food security and energy.
In October 2013, the two countries signed an agreement to support Egypt’s development plan, under which the UAE will provide $4.9 billion to implement a series of development projects in Egypt.
In 2015, the UAE announced a support package worth AED 14.7 billion (equivalent to nearly $4 billion) for Egyptians, including two payments of equal value, one of which was a deposit with the Central Bank of Egypt (CBE) , another for various projects across multiple industries.
The UAE is Egypt’s second-largest trading partner at the Arab level, while Egypt is the UAE’s fifth-largest Arab non-oil trading partner, accounting for 5.2% of its total non-oil trade with Arab countries.
In terms of investment, the UAE is the largest investor in Egypt at the Arab level, with a cumulative investment balance of over US$16 billion (equivalent to AED59 billion).
More than 1,300 Emirati companies are engaged in projects and investments in various fields in Egypt. These industries include wholesale and retail, transport, warehousing and logistics, in addition to finance and insurance, as well as information and communication technology, real estate and construction, tourism, agriculture and food security.
Egyptian companies also invest in various sectors of the UAE market, with the most prominent projects including real estate, finance, construction, wholesale and retail trade, manufacturing, communications, information technology, construction, transportation and warehousing.
The communications and information technology sector topped the UAE’s Egyptian investments with around 55 companies and $2 billion in investment, followed by the financial sector with $1.7 billion in 49 established companies. Construction came in third with $814 million in investment and 118 companies. Investments in the industrial sector ranked fourth with 131 companies investing $544 million. Investment in services ranked fifth with $343 million and 275 companies, and tourism investment ranked sixth with 48 companies and $260 million.
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