In a recent meeting in Cairo, Saudi Arabia’s Crown Prince Mohammed bin Salman and Egypt’s President Abdel Fattah al-Sisi agreed to strengthen economic ties and urged for an immediate ceasefire in Gaza and Lebanon.
The leaders signed an agreement to encourage mutual investments and established a coordination council to enhance cooperation across sectors like energy, transport, and tourism.
This visit further cements Saudi Arabia’s ongoing investment strategy in Egypt. In 2024, Saudi investments in Egypt reached $5 billion, with plans for future tourism developments along the Red Sea coast.
Both nations expressed their commitment to supporting regional stability and economic integration, emphasizing the need for collective efforts to reach a ceasefire in Gaza.
As part of this growing cooperation, Egypt’s sovereign bonds rallied in response to the meeting, with gains in long-term maturities.
The partnership is expected to play a key role in bolstering Egypt’s economy, which has been struggling with inflation and currency devaluation.
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