UAE delegation visits Egypt soon for talks on ports coop.

A technical delegation of the DP World is due to visit Egypt soon to discuss opportunities of cooperation in the filed of upgrading the infrastructure of Egypt's ports, said Trade and Industry Minister on Sunday.

The visit falls within the framework of the government's approach toward applying electronic links and using machines in offering services across all customs outlets.

Trade Ministry, in cooperation with the ministries of finance and transport, has implemented a project to facilitate the system aimed at cutting cost and time as well as improving trading process carried out by the Egy Trade, minister Tareq Qabil said.

The Egyptian trade minister, who is currently visiting the UAE, made the remarks during his meeting with DP World Chairman Sultan bin Sulayem and head of Dubai Customs.

The meeting tackled cooperation and investment opportunities between Egypt and Dubai during the coming stage.

Means of benefiting from the Emirati expertise in the domain of upgrading Egypt's ports and customs were discussed during the meeting as well.

It also took up UAE plans to expand the size of its investments in Egypt in the field of establishing a number of free zones. 

Meanwhile, Qabil reviewed economic reform procedures adopted by the Egyptian government, atop of which is removing obstacles facing foreign and domestic investments 

The two-way trade between Egypt and the UAE in 2016 has surpassed dlrs three billion, including dlrs 2.2 billion for Egyptian exports, with an increase of 224 percent compared with 2015, Qabil noted.

WP World chairman, for his part, praised efforts exerted by the Egyptian government to implement an inclusive economic reform plan.

Source: MENA