Presidents of UAE and Egypt met at El Alamein, a coastal city in northern Egypt, during which they exchanged views on both international and regional issues, reports Asian Lite Newsdesk
Egyptian President Abdel-Fattah al-Sisi and visiting President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan have underlined the importance of strengthening joint Arab action and Arab unity to cope with challenges facing the Arab region.
The two leaders made the remarks in a meeting at El Alamein, a coastal city in northern Egypt, during which they also exchanged views on both international and regional issues, Egypt’s presidential spokesman Bassam Rady said in a statement on Sunday.
They called for coordinated efforts to find long-term solutions to regional crises in order to bring about security, stability and peace for the region and its people, it added as quoted by Xinhua news agency report.
They also vowed to strengthen the strategic partnership between the two countries, especially in the economic and development fields, to support their aspirations towards achieving sustainable development, progress and prosperity, according to the statement.
They also exchanged views regarding several issues and dossiers of mutual interest and the latest regional and global developments.
In this context, they also emphasised the necessity of resorting to dialogue, understanding and diplomatic methods to settle disputes and crises by peaceful means that maintain international peace and security.
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UAE investments in Egypt
The data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS) has revealed that the value of Emirati investments in Egypt increased to US$1.9 billion (AED6.98 billion) during the first half of the 2021-2022 fiscal year, compared to US$712.6 million (AED2.617 billion) during the same period of the fiscal year 2020-2021, an increase of 169.1 percent.
In a statement today, CAPMAS revealed that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion during the first quarter of 2022, compared to US$1.1 billion during the same period in 2021, an increase of 1.4 percent.
According to the statement, the value of remittances from Egyptians working in the UAE reached US$3.5 billion during the 2020-2021 fiscal year, compared to US$3.4 billion during the 2019-2020 fiscal year, an increase of 1.4 percent.
Providing climate finance
Last week, Egypt’s Foreign Minister and President-Designate of the UN Climate Change Conference 2022 (COP27) Sameh Shoukry asserted the importance of providing climate finance to developing countries, including island countries, to enable them to fulfil their commitments toward the climate.
In his speech at the inauguration of the regional Caribbean meeting on climate change that was held in the Bahamas via video conference, Shoukry stated that developing countries, including island countries, are the most affected by the repercussions of climate change even though they contribute the least to emissions.
Shoukry reviewed Egypt’s vision for COP27, as well as the most prominent topics on the conference’s agenda, according to Egyptian Foreign Ministry Spokesperson Ahmed Hafez.
The Foreign minister asserted that the Egyptian vision of hosting COP27 focuses on the importance of shifting from promises to actual implementation on the ground and mobilising the necessary support for global climate action, noting the great importance of providing climate finance as the main driver of climate action at all levels.
With less than 90 days remaining before the start of COP27, Egypt has recently announced the schedule of the event on its official COP27 website.
COP27 is set to take place from 7- 17 November. The event will be held at Sharm El-Sheikh International Convention Centre (SHICC), one of the largest and most innovative conference centres in the Middle East and Africa. The complex has a variety of flexible conference and exhibition halls that will form the Blue Zone for COP27.
The incoming Egyptian COP27 presidency has identified a range of topics focused on enhancing implementation and raising ambitions on a broad range of issues related to climate change, according to the official website.
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