Egypt-UAE trade triples to $1.4 billion

Trade volume between the UAE and Egypt tripled to $1.4 billion (Dh5.14bn) in 2008, accounting for 10.6 per cent of Egypt's total foreign inward investment.

Overall foreign investment in Egypt has risen to $13.4bn. One major area of investment in Egypt has been the ICT market, which is now one of the fastest growing globally, according to a report from Business Monitor International. The report suggests the country's ICT industry will be worth about $1.9bn by 2013.

In a move to attract further investment, 30 Egyptian firms will participate in Gitex Technology Week in Dubai from October 18 until 22. Egypt's Information Technology Industry Development Agency is expanding its participation in the show by 15 per cent this year.

 

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