Egypt's Sisi hosts Saudi crown prince as Cairo looks to attract investment
Saudi's crown prince met with Egypt's president in Cairo on Tuesday, where the two oversaw the signing of an investment protection agreement and the creation of the Saudi-Egyptian Supreme Coordination Council.
Saudi Arabia’s crown prince, Mohammed bin Salman, arrived in Cairo and met with Egyptian President Abdel Fattah al-Sisi on Tuesday, where they agreed to strengthen trade and investment and saw the creation of the Saudi-Egyptian Supreme Coordination Council.
During their meeting, the two leaders spoke about “ongoing efforts to develop the Egyptian-Saudi economic partnership, especially in the field of investment and trade between the two countries, as well as economic integration in the fields of energy, transportation and tourism,” a statement issued by the Egyptian presidency said on Tuesday. The two also addressed the ongoing conflicts in Gaza and Lebanon.
The Saudi-Egyptian Supreme Coordination Council was signed into effect by Saudi Foreign Minister Prince Faisal bin Farhan and his Egyptian counterpart, Badr Abdelatty, the Saudi Foreign Ministry said in a Tuesday press release, providing no further details on what the council will entail.
The second agreement, signed by Saudi Minister of Investment Khalid Al-Falih and Egyptian Minister of Investment and Foreign Trade Hassan Al-Khatib, will “encourage and protect mutual investments between the kingdom and Egypt,” Saudi Arabia’s Foreign Ministry said.
