Egypt interested in removing any barriers to UAE investments, says Egyptian PM

"There were problems with contracts and we are trying to find a radical solution to this.. We already took good steps about some projects", Sharaf said in remarks during his meeting with CEOs and representatives of UAE companies in Abu Dhabi.

Sharaf also said "there is serious work to create a new favorable climate for investments based on transparency and openness. Nobody can do harm to the relations between the two sisterly countries." For his part, UAE Minister of State for Foreign Affairs Dr Anwar Mohammed Gergash, in remarks at the meeting, said the Egyptian Prime Minister's visit realized the visions and directives of both countries for promoting the historic relations.

Economic relations between the UAE and Egypt saw steady growth over the past years and trade exchange went up to US$ 1.17 billion in 2010 while UAE investments in Egypt reached US$ 4.5 billion in the same year, according to Gergash.