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UAE-Egypt ties get $20 billion boost

Wam/Abu Dhabi
Filed on November 15, 2019 | Last updated on November 15, 2019 at 05.15 am
sisi, egypt, uae, sheikh mohamed


Sheikh Mohamed said the late Sheikh Zayed loved and appreciated Egypt.

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said the relations between the UAE and Egypt are historical and strategic, and are based on trust and understanding.

During an official meeting with Abdel Fattah El Sisi, President of Egypt, who is currently visiting the UAE, Sheikh Mohamed said the late Sheikh Zayed bin Sultan Al Nahyan, Father of the UAE, loved and appreciated Egypt and considered it the heart of the Arab region and the cornerstone of Arab security.

The two countries have launched a joint strategic investment platform worth $20 billion (Dh74.3 billion), announced Sheikh Mohamed after the signing of strategic agreements with El Sisi, who is on a two-day visit to the UAE.

The investment fund will implement vital economic and social projects for the two countries.

"Together with my brother, President Abdel Fattah El Sisi, we launched a joint strategic investment platform between the UAE and Egypt worth $20 billion to implement vital economic and social projects for our brotherly countries," Sheikh Mohamed said in Twitter.

Recent developments have proven the strength of Emirati-Egyptian relations, as the two countries have stood together when facing risks that threaten the region's security, he added while highlighting the recent significant advancement of their ties in the areas of politics, economy, security and military, as well as the considerable increase in their trade and the growing number of Emirati investments in Egyptian economic sectors.

Sheikh Mohamed noted the keenness of the two countries to achieve further development and enhance their future relations while thanking President El Sisi for his keenness to strengthen Emirati-Egyptian ties and affirming that the UAE's strategy involves enhancing its overall cooperation with Egypt.

Sheikh Mohamed pointed out that the ties between the UAE and Egypt have always been distinguished throughout all their stages, not only on an official level but also on a popular level because the relations between their peoples are based on compassion, mutual respect and fraternity.

He also stressed that the UAE and Egypt are partners in supporting regional peace and stability, achieving benefits for their peoples, and preserving the sovereignty of Arab countries by enabling them to face their threats, adding that they are fighting together on one front against extremism and terrorism and the attempts to threaten the peace and security of the region's communities from extremist forces, which follow the agendas of other parties that aim to harm the two countries and their peoples.

"Egypt is a key country in the Arab region and is one of the cornerstones of Arab security. Egypt's security is as important as the UAE's security, and its progress, development and stability are important to the UAE and all Arab countries. Confronting the challenges and risks facing the Arab region requires intensifying the ongoing consultations between our countries and joint Arab action," he further said. - Wam

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