Saudi Arabia, Egypt launch new investment, military coordination council

Cairo and Riyadh signed an agreement Tuesday to establish a ‘Egyptian-Saudi Coordination Council’ to supervise the implementation of protocols and memorandums of understandings between both countries, especially the Cairo Declaration, Egypt’s presidency said in a statement Wednesday.

“The council will be responsible for suggesting initiatives, preparing agreements and memos of understandings between both countries in the light of Cairo Declaration’s articles,” the statement said.

In July, Egyptian President Abdel-Fattah El-Sisi and Saudi Defence Minister Mohammed Bin Salman issued the Cairo Declaration that includes six facets of cooperation between both countries such as developing military cooperation and working towards establishing the Joint Arab Force, enhancing investment in the fields of energy, electricity, and transportation, as well as defining the maritime borders between the two countries.

El-Sisi arrived in Riyadh on Tuesday to attend the Fourth Summit of South American-Arab Countries that aims to strengthen relations between the geographically distant countries.

The summit is headed by Saudi King Salman and is being attended by key figures from different South American and Arab countries, including the heads of Venezuela, Ecuador, Iraq and Palestine.

Earlier on Wednesday, El-Sisi held talks with Saudi Crown Prince Mohamed Bin Nayef in which he discussed bilateral relations and the ongoing crises in Yemen and Syria.

Some analysts say that the relation between both countries has recently become strained as their respective views over some regional issues, most notably in Syrian, differ. Riyadh strongly supports the overthrow of Bashar Al Assad’s regime, while Cairo remains neutral towards it.

source: Ahram Online