UAE, Egypt’s strategic ally for 47 years
Egypt’s relations with its strategic ally, the United Arab Emirates (UAE), date back to 1971, when a federation was created between seven Emirates, currently the United Arab Emirates. Recent years have witnessed close coordination between the two countries on key regional issues such as the Palestinian, Iraqi, Lebanese, Libyan,Yemeni, and Syrian matters as well as combating terrorism and extremism. The UAE’s support to Egypt since the June 30 revolution increased the Egyptian state’s capability to confront internal and external challenges. The UAE also backed the Egyptian economy after the decision to float the pound, as the UAE deposited $1bn in the Central Bank of Egypt (CBE) for a period of six years, to sustain the Egyptian exchange market. On 2 December, the UAE celebrates its National Day which marks the country’s Union Day between the seven emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, and Umm al-Quwain in 1971. Sheikh Zayed bin Sultan was the country’s first president. On the occasion of the UAE’s National Day, Daily News Egypt is honoured to issue a special coverage concerning the joint relations to shed light of several aspects of cooperation.