Egypt and UAE
Monday، 30 October 2017 - 12:00 AM
Egyptian-UAE relations date back to 1971, when a federation was created between the seven Emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah; now the United Arab Emirates.
Recent years have witnessed close coordination between the two countries on key issues such as the Palestinian, Iraqi, Lebanese, Libyan, Yemeni and Syrian issues. There is a great convergence of views and political stances on regional issues specially in combating terrorism and extremism.
The UAE support to Egypt since the June 30 Revolution increased the Egyptian State's capability to confront internal and external challenges and to combat terrorism.
The UAE also supported the Egyptian economy after the decision to float the pound as Dubai Port World, the largest port company in the world, started on February 1, 2016 to deal with dollar on land services provided to owners and recipients of goods instead of dealing with the Egyptian pound. The United Arab Emirates has deposited a $ 1 billion in the Central Bank of Egypt (CBE) for a period of six years to support the Egyptian exchange market.