Saudi Crown Prince Mohammed bin Salman visited Egypt on Tuesday and was received by President Abdel Fattah Al-Sisi. This visit aims to strengthen bilateral relations and address regional challenges, including the escalating conflicts in Gaza and Lebanon. The visit comes as the region grapples with heightened tensions between Israel and Iran, as well as military operations in the Gaza Strip and Lebanon. During a meeting with Egyptian President Al-Sisi, the two leaders underscored the importance of continued coordination and joint cooperation to overcome the current critical phase experienced by the region and the Islamic world. President Al-Sisi stressed the depth and centrality of the strategic relationship between Egypt and Saudi Arabia, especially in the face of threats facing the region. He also highlighted the mutual desire to translate the historic relations and bonds between the two countries into concrete action by strengthening bilateral institutional mechanisms, particularly through the launch of the Egyptian-Saudi Supreme Coordination Council, chaired by the President of Egypt and the Crown Prince of Saudi Arabia, to continuously monitor various aspects of bilateral relations and ways to develop them.
For his part, the Saudi Crown Prince affirmed the importance the Kingdom attaches to strengthening bilateral relations and building upon the historic ties between the two countries and brotherly peoples, for the sake of mutual interests across the political, economic, and development spheres. In this context, the leaders reviewed ongoing efforts to develop the Egyptian-Saudi economic partnership, particularly in investment exchange, bilateral trade, and economic integration in the areas of energy, transportation, and tourism. The discussions also addressed regional developments, including the situation in Gaza and Lebanon. The leaders agreed on the gravity of the regional situation and the need to de-escalate tensions. Both emphasized that the establishment of a sovereign Palestinian state, in accordance with international legitimacy resolutions, is the only way to achieve lasting peace, calm, and security in the region. They noted that attempts to liquidate the Palestinian issue would only perpetuate conflict in the region.
In this context, the leaders called for the initiation of steps towards de-escalation, including a ceasefire in Gaza and Lebanon, addressing the deteriorating humanitarian situation, and ceasing policies that push the region to the brink, halting the widening cycle of conflict. They also affirmed the necessity of respecting Lebanon's sovereignty, security, and stability, as well as the integrity of its territory. The two leaders also discussed a number of regional issues, including the security of the Red Sea region, and the situations in Sudan, Libya, and Syria. At the conclusion of the talks, the two leaders witnessed the signing of the establishment of the Egyptian-Saudi Supreme Coordination Council, chaired by the President of Egypt and the Crown Prince of Saudi Arabia, and the Agreement on the Encouragement and Reciprocal Protection of Investment between the two countries. The visit comes as Saudi Arabia and Egypt are collaborating within a ministerial committee established by the Extraordinary Joint Arab-Islamic Summit to work towards a ceasefire in Gaza and a lasting peace agreement.
The visit will also focus on deepening economic cooperation, building on Saudi Arabia's Vision 2030 and Egypt's Vision 2030. Both countries aim to strengthen their economic partnership and elevate it to a broader level commensurate with their historical and strategic relationship. This involves increasing investment cooperation and trade exchange, encouraging partnerships between the private sectors in both countries and working together to create a fertile and stimulating investment environment. Saudi Arabia and Egypt have already boosted their trade relations, with bilateral trade reaching $12.798bn in 2023. The Saudi-Egyptian Business Council aims to establish an economic alliance between the two countries to penetrate third markets and achieve integration between business sectors in investment projects and opportunities.
Beyond their economic goals, both nations expressed concerns about the Israeli escalation in Lebanon and pledged their full solidarity with the Lebanese people. They emphasised the need for the Lebanese state to assert its sovereignty over all Lebanese territory and called on the international community to assume its responsibilities and implement an immediate and permanent ceasefire in both Lebanon and the Gaza Strip. Saudi Arabia, with the support of Egypt and other regional and international partners, is also leading efforts to find a political solution to the crisis in Sudan and achieve security and stability on Sudanese territory. This includes their partnership with the Alliance for Saving Lives and Achieving Peace in Sudan. The Saudi Crown Prince and Egyptian President Abdel Fattah Al-Sisi have also reiterated their unwavering stance on demanding an immediate cessation of military operations in Gaza and Lebanon, safeguarding civilians, delivering humanitarian aid to those affected, and the necessity of reaching a peaceful and final solution to the Palestinian issue based on the two-state solution, relevant international resolutions, and the Arab Peace Initiative. They are committed to supporting the Palestinian people in achieving their rightful rights and realising their aspirations. Egypt, which hosted the second edition of the Green Middle East Initiative in Sharm El-Sheikh in November 2022, continues to support the initiative. The initiative, launched by Saudi Crown Prince Mohammed bin Salman, aims to combat climate change and promote sustainable development. Saudi Arabia has also been a major supporter of Egypt's economic development, providing $32.48bn in aid and depositing $10.3bn in the Central Bank of Egypt.
