Dr. Thani Ahmed Al Zeyoudi, Minister of Foreign Trade, led a high-level government delegation to Egypt as part of ongoing negotiations to establish a comprehensive economic partnership agreement between the two nations. During this visit, Al Zeyoudi met with Hassan Al Khatib, Egypt’s Minister of Investment and Foreign Trade, to discuss the progress made by the technical teams from both countries thus far. Both ministers reaffirmed their strong commitment to enhancing and deepening bilateral economic relations.
The technical teams have been working on various chapters of the upcoming comprehensive economic partnership agreement, focusing on key areas such as product origin rules, regulatory frameworks for operations in free zones, service trade, and digital commerce. This meeting marks a significant step towards strengthening economic cooperation between the UAE and Egypt.
Dr. Al Zeyoudi emphasized the importance of investing in the relationship with Egypt for both countries. The comprehensive economic partnership agreement is set to usher in a new era of collaboration and coordination, bringing mutual benefits and paving the way for increased trade volume, investment flows, and sustainable economic growth.
In 2024, non-oil trade between the UAE and Egypt reached approximately $8.4 billion, showing a growth rate of 21% compared to the previous year.
This solid trading relationship underscores the significance of the UAE as a key trading partner for Egypt within the Gulf Cooperation Council and the Arab world. The comprehensive economic partnership agreement aims to build upon this solid foundation by enhancing trade flows, fostering private sector collaboration, and expanding investment opportunities across various sectors, particularly in agriculture, manufacturing, and renewable energy.
The UAE’s comprehensive economic partnership agreements program seeks to strengthen economic and trade relations with countries worldwide. Through this initiative, the UAE aims to expand its foreign trade and solidify its position as a leading global trading hub. With 31 comprehensive economic partnership agreements signed and 14 of them in effect, the program exemplifies the UAE’s commitment to diversifying its economy and plays a crucial role in enhancing access to high-growth markets, significantly contributing to the nation’s total trade, which reached a record $810 billion in 2024.