Relations between Egypt and the United Arab Emirates have grown and developed at an unprecedented rate since the establishment of the latter as a state in 1971.

The UAE ranks first among Arab and foreign countries investing in Egypt.

Political ties

Egyptian-UAE ties are considered a model upon which inter-Arab relations should be styled. The bond of friendship between the leaders of both countries has reflected on the growing political, economic and cultural ties between them.

Official visits

President Hosni Mubarak visited the UAE on February 11, 2008, to discuss a number of regional and international issues. In focus were bilateral ties and ways of promoting them.

President Hosni Mubarak visited the UAE in January 2006 to express his condolences upon the death of Sheikh Maktum bin Rashid and again in January of 2006 within the context of a Gulf tour.

UAE President Sheikh Khalifa bin Zayed visited Egypt on July 15, 2006 within the context of a tour which also took him to France and Morocco.

Agreements signed
July 22, 2008

An MOU was signed between the two countries allowing entry-without-visa to holders of diplomatic and special-mission passports from both countries.

The MOU also stipulates that talks be held regularly between representatives of the two countries on issues of mutual concern. The talks should be held in Abu Dhabi and Cairo alternately or elsewhere if needs be.

Economic ties

Statistics show that trade exchange with the UAE reached $435 million in 2006 compared to the 2002 figure of $160 million. Exports to the UAE in 2006 amounted to $303 million compared to $91.7 million in 2002 with the balance of trade tilting towards Egypt by a total of $171 million compared to $24 million in 2002.

Egyptian exports to the UAE include: foodstuff, furniture, chemicals, metal works, pharmaceuticals, fruits and vegetables, gold, domestic appliances.

Egyptian imports from the UAE include: petrochemicals, electronic gadgets, engines, textiles, fertilizers.

Investments

According to the General Investment Authority, the UAE direct investments in Egypt until October 2007 reached $2.2 billion. 166 UAE projects are currently operating in Egypt under the umbrella of the investment system (at a total of EGP10.8 billion). As far as numbers go, however, the industrial sector ranks first with regard to attracting UAE investments (57 companies).

In 2006, an Egyptian-UAE consortium won the license of Egypt's third mobile company.

UAE building and real estate companies have also been operating intensively in Egypt.

The UAE has further diversified its projects in Egypt, which now cover not only tourism, industry, real estate and banking but also retailing, shopping malls and entertainment.

Investment opportunities in Egypt have attracted UAE entrepreneurs and businessmen particularly given international indicators of real economic growth and the presence nationwide of high quality infrastructure projects.

Toursim

2007 saw an increase by 23% in the number of UAE visitors to Egypt. The percentage is expected to multiply by the end of 2008.

An Egyptian Tourism Activation Authority team visited the UAE in November 2008. The team was received by representatives of the UAE Tourism Industry.

Agreements signed

 Agreement on trade exchange and economic cooperation – July 1988
Agreement on the promotion and protection of investments – May 1997
Agreement on the prevention of double taxation and tax evasion – April 1994
Executive program on the facilitation and development of trade exchange between Arab countries
MOU on cooperation between the Egyptian Capital Market and the Emirates Securities and Commodities Authority – March 2006
Cooperation Agreement between the Egyptian Capital Market and the Dubai International Financial Centre (DIFC) – September 2006