The UAE and Egypt have agreed to establish a phased framework for the gradual expansion of air services between the two countries to meet growing demand for passenger traffic, create new opportunities for airlines and further boost economic ties.
The decision to expand air connectivity over the next five years reflects the depth of the bilateral relations between the two countries and move to strengthen cooperation in the aviation sector.
The announcement comes on the sidelines of the 11th Edition of ICAO AFI Week in Cairo, where the agreement was signed by Saif Mohammed Al Suwaidi, Director General of the UAE General Civil Aviation Authority (GCAA), and Captain Sameh Fawzy, President of the Egyptian Civil Aviation Authority (ECAA).
"The phased expansion of air traffic rights will support the aviation sector, promote tourism, the economy, and investment, and further advance the distinguished economic partnership between our two countries to even greater levels of growth and prosperity," highlighted Abdulla Bin Touq Al Marri, UAE Minister of Economy and Tourism and Chairman of the Board of GCAA.
Dr. Sameh Ahmed El Hefny, Minister of Civil Aviation of Egypt, said it "marks another important milestone in the longstanding cooperation between Egypt and the UAE in the field of civil aviation".
The UAE and Argentina have announced the launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), marking a new step in efforts to deepen trade and investment relations.
Meraas, part of Dubai Holding Real Estate, has awarded a contract worth nearly AED 1 billion to GCC Contracting to build 272 villas and townhouses in Phase 7 of Nad Al Sheba Gardens.
Meta CEO Mark Zuckerberg on Wednesday has unveiled a small handheld gadget called Meta Charm for using its new Muse AI assistant, taking the company's hardware efforts beyond its successful smart glasses.
The Central Bank of the UAE has imposed strict enforcement measures on the UAE branches of Bank Melli Iran following violations of regulatory requirements, including legislation related to anti-money laundering and combating the financing of terrorism and proliferation financing.
A free trade agreement between India and New Zealand, signed in April, will come into force on October 20, Indian trade minister Piyush Goyal said on Monday, as New Delhi seeks to boost exports and attract investment amid shifts in global trade.
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