Egypt, UAE Launch Joint Strategic Platform Worth $20 Bln

Egypt and United Arab of Emirates (UAE) announced on Thursday the launching of a new joint strategic platform, with total investments of $20 billion, according to Egyptian presidential spokesman Ambassador Bassam Radi.

“The partnership aims at establishing strategic joint ventures, specialized funds or investment instruments, to invest in several sectors, foremost of which manufacturing, traditional and renewable energy, technology, food and real estate, tourism, healthcare, logistics, financial services, infrastructure, and others,” Radi added.

The Egyptian president met Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Mohamed bin Zayed earlier today Thursday, where they discussed ways to enhance bilateral relations.

Abu Dhabi Crown Prince granted El-Sisi “Order of Zayed, which is considered the highest civil decoration named after Zayed bin Sultan Al Nahyan.

It is worth mentioning that, El-Sisi arrived on Wednesday in Abu Dhabi for a two-day official visit to the United Arab Emirates (UAE).

Egypt’s Head of State's visit to the UAE comes within the framework of both countries’ keenness to bolster the strong brotherly ties, and collaboration, as well as consultations on various issues related to promoting joint Arab action.

Egypt and the UAE have a long history of military cooperation. On November 2, 2019, the two countries concluded a month of joint military drills under the title “Night Eagles”, Sisi added.