Egyptian President Abdel Fattah El-Sisi and Saudi Crown Prince and Prime Minister Mohammed bin Salman had extensive discussions in Cairo on Tuesday.
El-Sisi and the Crown Prince met and discussed measures to improve fraternal ties and other topics of shared interest, particularly the most recent events in the area.
On the margins of the meeting, the two presidents witnessed the signing of the agreement to safeguard and encourage mutual investments between Saudi Arabia and Egypt and the minutes to establish the Saudi-Egyptian Supreme Coordination Council. Additionally, representatives from both nations participated in the extended discussion session that centred on expanding trade and collaborative investment between the two nations.
The Crown Prince’s visit, which followed King Salman’s orders as Custodian of the Two Holy Mosques, is anticipated to increase cooperative investments in crucial areas. It is interesting that, according to data from the Central Bank of Egypt, Saudi Arabia has invested approximately $6.1 billion in the Egyptian economy over the last ten years.
Saudi Arabia invested approximately $2.4 billion, or 390 percent more than the previous year, in Egypt in the final fiscal year of 2022–2023, accounting for 10 percent of the $23 billion in global investments that year.
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