Egyptian interim PM to visit UAE on Friday

The UAE is the third largest investor in Egypt, with total investments worth about $5 billion in 2012.

Egyptian interim PM to visit UAE on Friday

World Bulletin / News Desk

Egyptian interim Prime Minister Hazem al-Beblawi is set to leave for the United Arab Emirates (UAE) on Friday for his first foreign visit since assuming the post in July.

The premier will meet with UAE President Sheikh Khalifa bin Zayed al-Nahyan, Vice-President and Prime Minister Sheikh Mohamed bin Rashid al-Maktoum and Abu Dhabi Crown Prince Mohamed bin Zayed al-Nahyan for talks on bilateral cooperation, according to an Egyptian cabinet statement.

Al-Beblawi will be accompanied by a high-profile economic delegation, including Deputy Premier Ziad Bahaa Eddin and Central Bank of Egypt Governor Hisham Ramez, along with the ministers of investment, trade, industry, housing and petroleum.

The UAE was among the first Arab countries to voice support for the July 3 ouster of president Mohamed Morsi, Egypt's first freely-elected head of state, after massive protests against his administration.

In the immediate wake of Morsi's overthrow, the UAE pledged $3 billion in aid to shore up Egypt's faltering economy.

Annual trade exchanges between the two countries currently stand at around $1.5 billion.

The UAE is the third largest investor in Egypt, with total investments worth about $5 billion in 2012.

Some 550 UAE companies currently operate in Egypt.

Last Mod: 25 Ekim 2013, 14:47
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