The Custodian of the two Holy Mosques King Salman bin Abdulaziz issued directives decreeing that “Saudi investments in Egypt increase to over 30 billion riyals ($8 billion)” in addition to providing Egypt with its needs for petrol for 5 years and supporting traffic in the Suez Canal through Saudi ships.
Deputy Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud who is also Minister of Defence and Second Deputy Prime Minister announced these directives at the beginning of the Saudi-Egyptian coordination council’s second meeting in Cairo yesterday.
The Egyptian Prime Minister Sherif Ismail expressed the Egyptian government and people’s appreciation of the Custodian of the two Holy Mosques King Salman bin Abdulaziz’s eagerness and great interest in supporting the Egyptian economy and promoting common interests between the two countries.
The council, led by the Deputy Crown Prince Mohammed bin Salman on the Saudi side and Prime Minister Sherif Ismail on the Egyptian side, reviewed the efforts made by the joint committees as well as the working groups set up at the first meeting which took place in Riyadh on the 2nd of December. It stressed the importance of fulfilling the tasks that it is charged with in preparation for completing the review of initiatives, projects of agreements, reports and implementation programmes arising from the Cairo Declaration during the specified period.
Both sides stressed that they were striving to work on the development of close relations to achieve the joint aspirations and serve the common interests between them during the meeting.
The Egyptian President Abdel Fattah el-Sisi received Prince Mohammed bin Salman and they reviewed bilateral relations between the two countries and ways of developing them during the meeting.