The UAE has emerged as the largest investor in Egypt on an international level, according to the Egyptian Commercial Representation Authority. The General Investment Authority’s data until April 2023 reveals that the UAE’s investments in Egypt amount to $9.6 billion, with over 1,600 companies operating in various sectors in the country.
Economic relations are a crucial aspect of Egyptian-Emirati ties, and the UAE is Egypt’s second-largest trading partner in the Arab world. Bilateral trade between the two countries reached approximately $4 billion in 2023. Additionally, Egypt ranks fifth among Arab trading partners of the UAE for non-oil trade, accounting for 7% of total trade.
Egyptian exports to the UAE include natural pearls, precious stones, machinery, clothing, fruits, and vegetables. On the other hand, key imports from the UAE to Egypt consist of fuel, plastics, copper products, and fish. Despite their economic cooperation efforts in recent years, there have been concerns about rising trade tensions between Egypt and Saudi Arabia due to their competition for investment opportunities.
In May 2022, an integrated industrial partnership for sustainable economic development involving Egypt, Jordan, Bahrain and Saudi Arabia was announced. This partnership aims to develop five promising industrial sectors through an investment fund worth $10 billion.
Officials from both countries have held frequent meetings to strengthen bilateral cooperation in various economic fields. Recently, the UAE has been proactive in signing agreements with Egypt in several sectors such as new energy. For instance, they signed a deal to develop a 10 Giga Watt wind energy project in Egypt.
The growth of bilateral relations between Egypt and Saudi Arabia has led to increased cooperation in various fields such as agriculture and technology transfer. However
