President Abdel Fattah El Sisi issued on Thursday a decree approving a memo of understanding signed between Egypt and the UAE on boosting financial and technical cooperation.

The memo was signed in January 2017 and was approved by the House of Representatives during its July 5 session.

As per the memo, the two sides will foster cooperation as regards removing all tax hurdles blocking investments, applying the double taxation avoidance agreement, settling any conflict that might emerge while applying the agreement on encouraging investments.