Assistant Trade Minister Ahmed Taha said the investment climate in Egypt is encouraging, especially after the issuance of the new investment law which offers a good package of investment incentives.

He made the remarks during a meeting with Abdulla Al Saleh, the Undersecretary for Foreign Trade and Industry at the UAE Ministry of Economy.

The talks tackled available investment opportunities in the Egyptian market, especially in the fields of engineering, chemicals, paper, iron and steel as well as recycling projects, a statement by the Trade and Industry Ministry said on Thursday.

Taha said there is a great chance for establishing joint projects in Egypt and exporting to the African market.

He added that the UAE can benefit from the free trade agreements signed with many African states, noting that Egypt bears up to 50 percent of the cost of products transportation to African states under the export incentive program.

For his part, the UAE official underlined his country's interest in investing in Egypt, especially in view of the successful Egyptian reform program.

He noted that both countries could establish joint projects in African states, especially logistic centers.

Reported by Egypttoday