Egypt premier in UAE, invites investors to economic summit

Ahram Online , Wednesday 11 Feb 2015

Ibrahim Mahlab to meet top UAE officials as well as businessmen and investors during the summit in Dubai

Ibrahim Mahlab
Egyptian Prime Minister Ibrahim Mahlab (Photo: AP)

Egypt’s Prime Minister Ibrahim Mahlab travelled to Dubai on Wednesday for a summit attended by representatives from 87 countries, state news agency MENA reported.

The visit to the rich Gulf country comes ahead of a well-publicised Egyptian economic summit in March, in which Cairo aims to attract investments to boost its economy after the fallout of years of political turmoil.

Mahlab met with Dubai ruler Mohamed Sheikh Mohammed bin Rashid Al-Maktoum to discuss bilateral relations. He is set to meet Abu Dhabi ruler as well as some of the country’s leading businessmen and investors to invite them to Egypt’s economic summit.

In his speech on Wednesday, Mahlab said Egyptians “accepted economic reform,” which included lifting subsidies on fuel products, and had “amazed the world” with the quick funding of the extension to the Suez Canal strategic waterway.

Egypt’s President Abdel-Fattah El-Sisi had called heads of the Gulf countries, Saudi Arabia, Abu Dhabi, Kuwait and Bahrain on Sunday to stress their good relations.

The latest top official communication came after a private TV channel which is sympathetic to the banned Muslim Brotherhood broadcast an alleged secret recorded conversation between El-Sisi and two other top Egyptian generals bemoaning the wealth of Arab Gulf states in sarcastic remarks.

Kuwait, Saudi Arabia and the UAE have committed at least $12 billion to Egypt, most of which came in the form of petroleum products, after ouster of Islamist president Mohamed Morsi in 2013.

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