Friday 18 Oct

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Egypt, Saudi Arabia sign Investment Protection Deal


Egypt, Saudi Arabia sign Investment Protection Deal

President Abdel Fattah El-Sisi received Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince of the Kingdom of Saudi Arabia and Prime Minister, Tuesday, at Cairo International Airport

The President accompanied the Saudi guest to Ittihadiya Palace for an official welcoming ceremony. A bilateral meeting followed, attended by Prime Minister Dr. Moustafa Madbouly and delegations from both countries. Sisi conveyed his best regards to King Salman bin Abdulaziz, Custodian of the Two Holy Mosques.

Sisi highlighted the strategic importance of the Egypt-Saudi relationship, especially given the challenges facing the region. He emphasized the need for continued coordination and cooperation to overcome the current difficulties. Sisi also expressed a desire to strengthen bilateral ties through the newly established Supreme Coordination Council.

Crown Prince Mohammed affirmed Saudi Arabia's commitment to strengthening the relationship and building upon the historical ties between the two countries. He emphasized the importance of achieving mutual interests in political, economic, and development areas. The leaders discussed ongoing efforts to enhance the Egyptian-Saudi economic partnership, particularly in investment, trade, and energy, transportation, and tourism.

The discussions also addressed regional developments, including the situation in Gaza and Lebanon. Both leaders agreed on the urgency of de-escalation. They also discussed regional security issues, focusing on the Red Sea, Sudan, Libya, and Syria.

At the conclusion of the talks, Sisi and Crown Prince Mohammed witnessed the signing of the Supreme Coordination Council agreement and an investment protection deal.