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The two-day event in Cairo, marking the 50th anniversary of bilateral relations between Egypt and the United Arab Emirates (UAE), is set to begin on Wednesday and run until Friday with the slogan “Egypt and the UAE: One Heart” .
The event will be attended by Egyptian and UAE cabinet ministers and senior officials, as well as 1,800 Egyptian and UAE public figures and celebrities, including politicians, businessmen, investors, according to a statement issued by the Egyptian Ministry of Planning and Economic Development on October 18. writers, intellectuals, creators and media professionals. The first day will be devoted to economic relations, with ministers, senior officials and business leaders from both countries, and the second day will focus on cultural relations.
The forum will also review “success stories” of Egyptian and Emirati companies, the statement added.
Hala Saeed, Egypt’s Minister of Planning and Economic Development, said the event reflected the depth of Egypt’s bilateral relations with the UAE and the enthusiasm to push them forward.
“The event is an opportunity to promote relations with various sectors of the UAE and set an example of Arab brotherhood for all Arab countries,” said Al-Said.
“The two countries have dozens of joint investment opportunities in areas such as health, pharmaceutical production, real estate and infrastructure projects, financial services, digital transformation, agriculture and the food industry.”
Al-Said said Egypt is particularly interested in using the event to open up new areas of joint investment with the UAE.
“While we have already carried out investment cooperation through the Egyptian Sovereign Investment Fund and Abu Dhabi Holding Company under the agreement signed by the two governments in 2019 to implement development and economic projects estimated at US$20 billion, there is still significant investment between the two countries. Opportunities remain, including healthcare, pharmaceuticals, food processing, agriculture, and green and environmental protection projects.”
Al-Said concluded: “We rely on the promising opportunities for cooperation between the two countries, as directed by the political leaders of Egypt and the UAE, to achieve a prosperous future for our peoples”.
Non-oil trade between Egypt and the UAE exceeded $3.2 billion between January and May 2022, up from $2.9 billion in the same period in 2021, according to data released by the UAE Ministry of Cabinet Affairs.
In 2021, the non-oil foreign trade between the two countries will exceed US$7.5 billion, an increase of 7.4% over 2020.
The UAE Ministry of Cabinet Affairs noted, “The UAE is Egypt’s second-largest trading partner at the Arab level, while Egypt is the UAE’s fifth-largest Arab trading partner in non-oil internal trade, accounting for 7% of its total non-oil trade. country’s oil trade.
“The UAE is the largest Arab investor in Egypt and the third largest investor in the world, with a cumulative investment balance of over USD 28 billion (AED 102 billion) from 2003 to 2019 and a direct investment value of over USD 9 billion, with 1,300 Emirati companies operate in various sectors and projects in Egypt, including wholesale and retail trade, transport, warehousing and logistics, financial sector and insurance activities, information and communication technology, real estate, construction, tourism, agriculture and food security.
“The value of UAE investments in Egypt climbed to US$30 billion (AED110 billion) in 2021 and is expected to increase due to continued cooperation between the two countries.”
Mohamed Al-Gergawi, UAE Minister of Cabinet Affairs, explained that the second day of the event’s Cultural and Media Forum will feature intellectuals, media professionals, as well as prominent creatives and celebrities from both countries.
“The relationship between Egypt and the UAE represents an outstanding model of brotherhood between the two Arab countries based on integration and common interests,” Gergawi said.
“The relationship between Egypt and the UAE is not limited to diplomacy and leadership, but also operates at the level of the people of both countries. The late Sheikh Zayed bin Sultan Al Nahyan, the UAE’s founding father, Brotherhood with Egypt lays a solid foundation, and today, thanks to UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel-Fattah el-Sisi, Brotherhood became stronger, deeper, and more prosperous.”
Al-Gergawi also revealed that the second day of the event will honour figures who have played a prominent role in moving UAE-Egypt relations forward.
“The Culture and Media Forum will highlight the most important milestones of UAE-Egypt relations in the fields of media, culture, arts and shared history. In addition to dialogues and discussions between UAE and Egyptian diplomats and media professionals from both governments and the private sector In addition, there will be conferences on sports, media and cultural topics.
“A key UAE policy is to support the culture and arts of various countries, especially Egypt, and the UAE supports the Library of Alexandria with a $21 million donation.”
Abu Dhabi’s Um Kalthoum hosted a concert on the first day of the event to celebrate November 1971, days before the UAE’s declaration of independence, when the great singers of Egypt and the Arab world visited Abu Dhabi, marking the country’s independent performance.
*A version of this article appeared in the October 27, 2022 edition of Temple Weekly.
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