Egypt, UAE seek wider economic cooperation

"Despite the growth in Egyptian-United Arab Emirates (UAE) trade exchange, it has not yet lived up to expectations," said Egyptian Minister of Public Enterprise Mukhtar Khattab.

Addressing a seminar on trade and economic relations between the country and UAE on Wednesday, Khattab said the coming phase requires furthering economic cooperation.

He added that an Egyptian Trade Fair launched annually in Sharja should be a form of effective partnership with the Egyptian private sector.

On tourism cooperation, Khattab said it is the best time for investment in Egypt due to the current low prices and exchange rates that could enable investors to make good values for their investments.

"Egypt does not suffer a steep budget deficit and external debt is on the decline," he told the audience.