February 9 — Cairo: Egyptian President Abdel Fattah El-Sisi departed for the United Arab Emirates on Monday for an official fraternal visit aimed at reinforcing the strong relationship between the two countries.
According to a statement from the Egyptian Presidency, President El-Sisi is scheduled to meet with UAE President Sheikh Mohamed bin Zayed Al Nahyan during the visit. The discussions will focus on strengthening bilateral cooperation across multiple sectors, as well as enhancing coordination and consultation on regional and international matters of shared interest.
The two leaders maintain regular communication and meetings to address key political developments and issues affecting both the region and the global stage.
Egypt and the UAE share close political and economic ties, with the UAE Sovereign Wealth Fund and leading Emirati companies playing a major role in investment projects across Egypt. These investments span several sectors, including real estate, tourism, oil, gas, and natural resources.
In 2023, the two countries signed a local currency swap agreement designed to facilitate trade by allowing transactions to be conducted using Egyptian pounds and Emirati dirhams. The agreement covers exchanges valued at approximately five billion dirhams and 42 billion Egyptian pounds.
During the 2023–2024 fiscal year, Egypt received approximately $41.5 billion in Arab investments, with the UAE ranking as the largest contributor, accounting for about $38.9 billion of the total.
Relations between Egypt and the UAE date back to before the federation of the UAE in 1971, when Sheikh Zayed bin Sultan Al Nahyan unified the seven emirates into a single nation. Egypt was among the countries that supported and endorsed the establishment of the United Arab Emirates.
