Egyptian interim Prime Minister Hazim al-Beblawi likened violations on the security of Gulf states to harm against his country’s national security during his second-day visit to the UAE on Sunday.
Beblawi’s statement came after a deal signed with the UAE on Saturday for $1.9 billion in new loans, fuel supplies and other assistance.
He said Egypt will benefit from the UAE’s experience in boosting small and medium enterprises (SMEs).
Egypt and the UAE will delve into “all the opportunities that will benefit cooperation between the two countries,” he added.
“Our relationship with the UAE doesn’t only stop at the two governments collaborating but will also include the private sector,” he said, adding “the UAE has the second largest [amount of] Arab investments in Egypt, and we are ready to take notes and reduce obstacles faced by investors.”
Following the ouster of the Muslim Brotherhood-led government of President Mohammad Mursi in July, the UAE promised $3 billion in aid as part of the overall $12 billion aid package from Gulf states.
Meanwhile, Beblawi said Mursi’s Muslim Brotherhood movement’s brief rule in Egypt tarnished the country’s image and its own.
The official UAE news agency WAM said the new pact with Egypt provides a framework for aid to the country and could open the door for more assistance.
(With the Associated Press)
Egypt’s constitutional panel votes on draftThe panel tasked with amending Egypt’s suspended constitution is voting on a first draft of the charter amid deep divisions over portions on the ... Middle East
Israel names new ambassador to EgyptThe Israeli foreign ministry has named Middle East specialist Haim Koren as the Jewish state’s next ambassador to Egypt, a spokesman told AFP on ... Middle East
UAE signs $4.9 billion aid package to EgyptThe United Arab Emirates signed an aid agreement with Egypt on Saturday worth $4.9 billion, in another show of support from the wealthy Gulf state to ... Economy
Egypt offers to help ease tension between Iran and Gulf statesEgyptian Foreign Minister Nabil Fahmy has offered to mediate easing tension between the Gulf States and Iran during his visit on Saturday to the ... Middle East
Egypt is an ill man in need of recovery, says PMEgyptian Interim Prime Minister Hazem al-Beblawi compared his country, which has been riddled by political divisions for months, to an ill man in need ... Middle East
Egypt’s top TV satirist back on air, pokes fun at all political campsEgypt's most prominent television satirist, Bassem Youssef, known for his fierce jabs at ousted Islamist President Mohamed Mursi, returned to the ... Entertainment