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Sisi and Mohamed Bin Zayed Discuss Economic Cooperation, Regional Issues

Egyptian President Abdel Fattah El-Sisi and UAE President Sheikh Mohamed bin Zayed Al-Nahyan discussed several issues during their meeting in Abu Dhabi on Monday, according to a statement by the Egyptian presidency.

During his meeting with his Emirati counterpart, President El-Sisi discussed ways to enhance relations on all levels, particularly in economic cooperation, joint investments, and trade exchange.

The presidential spokesperson added that the two leaders also reviewed the latest developments in regional affairs and issues of common interest.

They agreed to continue their joint efforts to resolve the crises in the region in a way that safeguards the interests of the Arab peoples, enhances Arab solidarity, and achieves stability and prosperity in the region.

According to the presidency, the two leaders also discussed the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) hosted by Dubai at the end of this year. 

Both agreed to benefit from Egypt’s successful experience in hosting the previous COP27 in Sharm el-Sheikh and to build on the results achieved to give impetus to joint climate action at the international level.

During the visit, the Egyptian president congratulated the UAE on succeeding in sending an Emirati astronaut (Sultan Al-Neyadi) on the longest Arab space mission to date. El-Sisi and his Emirati counterpart met Al-Neyadi and other Emirati astronauts, the presidency said.  

Sultan Al-Neyadi became the first Arab astronaut to perform a spacewalk during his six-month mission to the International Space Station.

Earlier in August, UAE President Mohamed bin Zayed Al-Nahyan met with El-Sisi in Alamein City to discuss global and regional developments and ways to enhance cooperation in economy and development. 

Strong economic ties

Last year, Egypt and the UAE celebrated 50 years of relations with the slogan Egypt and the UAE: One Heart.

On Monday, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that UAE investments in Egypt reached $5.7 billion in FY2021/2022, up from $1.4 billion in FY2020/2021, an increase of 300.8 percent.

The value of remittances sent by Egyptians working in the UAE reached $3.5 billion in FY2021/2022, compared to $3.4 billion in FY2020/2021, an increase of 1.4 percent, according to CAPMAS.

Egyptian exports to the United Arab Emirates increased to $1.9 billion in 2022, compared to $1.8 billion during the same period in 2021, marking a rise of 10.6 percent.

Egyptian imports from the UAE recorded $3 billion in 2022.

Source: Ahramn Online

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