UAE- Al Mansouri talks trade synergies with Egypt Czech Republic

3/29/2016 11:49:12 PM

(MENAFN- Khaleej Times) Sultan bin Saeed Al Mansouri UAE Minister of Economy discussed economic and trade cooperation with Egypt and Czech Republic and ways to strengthen the bilateral relationship for greater mutual benefit.

This came during Al Mansouri's separate meetings with Wael Jad Ambassador of Egypt and Alexander Sporish the Ambassador of the Czech Republic to the UAE.

During his meeting with the Egyptian Ambassador the two sides discussed hosting a UAE-Egypt business meeting to identify opportunities for growth as well as pinpoint challenges that need to be overcome for ensuring the development of these synergies.

The UAE and Egypt also explored potential partnerships in sectors including aviation tourism and logistics.

Al Mansouri said: "Egypt offers many promising investment opportunities that could fast-track its economic development process in the short to mid-term phase. Massive development projects such as the New Suez Canal and its logistics zone the recent discoveries of huge gas fields in the country and a significant skilled labour market qualifies Egypt to become a major investment destination in the region."

The minister pointed out that in light of steps taken by the Egyptian government to tackle challenges facing investors new and enabling procedures are likely to further shore up Egypt's prospects globally and make it a more attractive destination with well-defined investment sectors.

Jad reaffirmed Egypt's commitment to strengthening economic and trade ties with the UAE and in driving partnerships among organisations in the two countries.

During the meeting with the Czech Republic Ambassador the outcomes of recent official visits between the two countries was highlighted.

The two sides gained updates on the status of the economic and technical cooperation agreement that is set for ratification by the UAE and the Czech Republic. The agreement includes frameworks for partnerships in a number of mutually beneficial economic sectors.

Al Mansouri noted that the Czech Republic is a promising investment destination due to its enabling environment.

Sporish said the UAE has established itself as a major destination for investment and tourism in the region.

He noted that 50000 Czechs visit the UAE annually while some 2000 live and work in the country.

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