UAE and Egypt hail ties, seek to boost economic cooperation

Business Bureau, Gulf Today

Ajman Chamber of Commerce and Industry (ACCI) officials received a delegation from the Egyptian Chamber of Commerce and Industry and discussed the strong and deep relations between the UAE and Egypt.

The delegation was led by Ibrahim Mahmoud, Deputy Chairman of Ismailia Chamber, while comprised a number of officials, businessmen and traders.

Abdullah Al Muwaiji, Chairman of Ajman Chamber of Commerce and Industry (ACCI), received a delegation from the Egyptian Chamber of Commerce and Industry, (Ismailia Province) in the presence of Abdullah Saeed Al Nuaimi, Board Member of Ajman Chamber, Salem Al Suwaidi, Director General, and Mohammed Ali Al Janahi, Executive Director of the Promotion and Investment Division.

At the beginning of the meeting, Abdullah Al Muwaiji welcomed the Egyptian delegation, stressing the strong and deep relations between the two countries at the leadership and people levels.

He also underscored the importance of the meeting, which would provide an opportunity to highlight the powerful economic elements in Ajman and Ismailia Province, Egypt and to explore the investment opportunities that serve the businessmen and traders of both parties.

Al Muwaiji also noted that the UAE prudent leadership is keen to provide all requirements that ensure success and sustainability of the private sector institutions, particularly in the Emirate of Ajman, which is witnessing significant growth in the areas of tourism, education and health. He further appreciated the efforts of all concerned entities to provide smart facilities and services that enhance the competitiveness of the economic sector in the emirate.

During the meeting, the delegation was briefed on the emirate’s most important economic components, location, and the legislative environment and economic laws that enhance the sustainability of the business environment. They were also introduced to the most important statistics and sectors in the emirate, where the industrial sector topped the all contributing 33 per cent to the GDP of the emirate, followed by the construction sector with 14 per cent, the real estate sector with 12 per cent and the trade sector with 12 per cent.

They also reviewed the major events and exhibitions organised by the Ajman Chamber, the most notably are the Ajman Education and Training Exhibition, the Future Build Exhibition and the Ajman Franchise Exhibition.

For his part, Ibrahim Mahmoud, Deputy Chairman of Ismailia Chamber thanked Ajman Chamber for the warm reception, and stressed the importance of the meeting in the light of the great and promising opportunities provided by Ajman and Ismailia for investors and traders.

Mahmoud also briefed Ajman Chamber on the huge national projects in Ismailia that provide a promising investment environment, especially that the province enjoys a distinct location on the Suez Canal. He invited the Chamber’ officials and businessmen in the Emirate of Ajman to visit Ismailia to be acquainted with its economic components and its events and exhibitions organised by it throughout the year.

During the meeting, a Memorandum of Understanding was signed between Ajman Chamber and the Egyptian Chamber in Ismailia. The MoU was signed by Abdullah Saeed Al Nuaimi, Board Member of Ajman Chamber, and Ibrahim Mahmoud, Deputy Chairman of Ismailia Chamber.

The MoU stipulated strengthening the technical and technological cooperation between the two sides and implementing programmes of common interest to exchange experiences, information and best practices. It also stipulated organizing and holding conferences, seminars and courses related to common areas of work, in addition to enhancing customer service and partnership with each other’s strategic partners.

During the visit, the Egyptian delegation was briefed on the Regis Business Centre and the leading services provided by the Center for entrepreneurs. Among the services provided by Ajman Chamber is the electronic portal of certificates of origin, which was praised by the Egyptian delegation. The device reduces the time and effort to customers, as it enables them to receive their certificates at any time in hassle-free procedures.

At the end of the meeting, Al Muwaiji and Ibrahim Mahmoud exchanged commemorative shields and souvenirs. Earlier the Ajman Chamber of Commerce and Industry (ACCI) and a delegation from Russia reviewed the ways to enhance the cooperation in various sectors.

Abdullah Al Muwaiji, Chairman of Ajman Chamber of Commerce and Industry (ACCI), received a Russian delegation from Belgorod city led by Sergey N Glagolev, Rector of Belgorod State Technological University and president of the local parliament of the city.