Non-oil trade exchange between Egypt, UAE exceeds $3.8bln in 5 months

Non-oil trade exchange between Egypt, UAE exceeds $3.8bln in 5 months

The volume of non-oil trade exchange between Egypt and the UAE from January to May 2022 amounted to more than 14.1 billion dirhams (over $3.8bn), a growth of 6% compared to the same period in 2021.

The volume of non-oil foreign trade between Egypt and the UAE amounted to about 27.8 billion dirhams (over $7.5bn) during 2021, with a growth rate of 7.6% compared to 2020.

Next Wednesday, Egypt will celebrate the 50th anniversary of the establishment of the Emirati-Egyptian relations.

According to recent indicators, May 2022 witnessed the announcement of an integrated industrial partnership for sustainable economic development that brings together the two countries in addition to Jordan, in order to achieve sustainable economic development in five promising industrial fields that are qualified for integration and cooperation. Moreover, an investment fund worth $10bn will be allocated to invest in relevant projects.

The UAE ranked first among the countries in the world investing in Egypt, as the value of Emirati investments in Egypt increased to $1.9bn in FY 2019/2020, compared to $712.6m in FY 2018/2019, an increase of 169.1%. The value of investments issued by the UAE to Egypt during the period from 2013 to 2021 is estimated at $16bn (59 billion dirhams).

In 2019,