print logo

Bikyamasr: UAE investment in Egypt rises to 26.4 billion pounds

The increasing number of UAE companies operating in Egypt is the result of the good economic relations between the two countries.
27.02.12 | Interesting article at Bikyamasr

The volume of United Arab Emirates investment in Egypt amounted to about 16.5 billion dirham’s (26.4 billion Egyptian pounds), divided into the sectors of agriculture, telecommunications, real estate, information technology, banking services, pointing to the depth of the economic relationship between the two countries linked by 18 agreements.

Tamer Mansour, Ambassador of Egypt to the UAE, explained during a press conference held by the Information Office of the Egyptian embassy in Abu Dhabi, that the increasing number of UAE companies operating in Egypt, which amounted to 557 companies at present after the number was not more than 114 companies for 10 years, was “the result of the good economic relations,” and stressed Egypt’s “desire to boost these relations.”

It should be noted that the volume of trade exchange between the UAE and Egypt rose by 2.8 percent during the first 9 months of 2011, reaching about $714.8 million compared to $695.2 million during the same period in 2010.

Egypt’s exports to the UAE market during the same period of 2011, reached $484.8 million, an increase of about 9.6 percent over the same period of the previous year.

Egyptian exports to the UAE are mainly food products and copper products, electrical cables and wooden furniture and iron, garments and marble.