Bilateral trade between the United Arab Emirates and the Arab Republic of Egypt has recently scored a robust growth, reflecting particularly solid economic and commercial relationships between both countries. These strong ties have benefited from the growing position occupied by the UAE in general and Dubai in particular as a leading hub of global trade, and a connecting point between the Arab world and overseas markets, especially those in Asia.
Proceeding from the wise directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE President, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, towards building stronger relations with Egypt, the foreign trade sector in the UAE and in the emirate of Dubai pays utmost attention to reinforcing commercial flow between the two friendly nations. In this perspective, coordination is underway both at governmental and private-sector levels aiming to ease and strengthen mutual trade in such a way as to meet the needs of a developing Egyptian economy.
According to latest end-of-September foreign trade statistics revealed by Dubai Customs, Dubai-Egypt trade grew 21.5 % hitting AED 11.3 billion over the first three quarters of 2014, compared to AED 9.3 billion scored in the same period of 2013.
Dubai’s imports from Egypt accounted for AED 3 billion during January-September 2014, with exports at AED 2.6 billion and re-exports representing the bulk of trade at AED 5.7 billion.
Dubai-Egypt bilateral trade covers a wide range of goods. Phones, computers, satellite receivers and printers lead the list.
H.E. Sultan Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC), said: “We at PCFC strive to stimulate two-way trade growth with Egypt, by actively supporting UAE’s efforts to strengthening socio-economic development in Egypt, in line with the directives of our leaders. We realize the tremendous opportunities posed by Egyptian markets and the vast prospects they offer to trade growth, particularly as Egypt has embarked on an important phase for investment and economic and industrial development.”
The approach to drive forward bilateral trade with Egypt coincides with the UAE’s focus on increasing the inflow of investments to Egypt in the upcoming stage in all sectors; industry, real estate, tourism, transportation and infrastructure, he noted.
H.E. Ahmed Mahboob Musabih, Director of Dubai Customs, said: “We aim for a higher level of trade and economic collaboration between the UAE and Egypt, articulating the long-standing ties that connect us with the State and people of Egypt. We shall continue to facilitate mutual trade flow to cater to the needs of the Egyptian market by supplying it with goods from around the world, and –at the same time – ensuring Egyptian products have access into global markets via Dubai.”