Qatar and Egypt have agreed on a set of investments and partnerships in the Egyptian market, with a total value of $5 billion during the coming period, according to what the official Qatar News Agency (QNA) reported.
This came during a meeting held today, Tuesday, in Cairo, between Egyptian Prime Minister Mostafa Madbouly, Sheikh Mohammed bin Abdulrahman Al-Thani, Deputy Prime Minister and Minister of Foreign Affairs of Qatar, and Qatari Finance Minister Ali bin Ahmed Al-Kuwari.
The meeting dealt with a review of bilateral relations between the two countries, and the importance of strengthening cooperation and coordination between them in various fields.
Qatar and Egypt agree on a set of investments and partnerships worth $5 billion.
# Qena https://t.co/LKqJABZ1ZY pic.twitter.com/H8blCRSTNr
— Qatar News Agency (@QatarNewsAgency) March 29, 2022
The two sides praised the step of forming a joint high committee headed by the foreign ministers of the two countries, with the aim of continuous consultation and strengthening cooperation and coordination in all fields.
Egypt is facing new financial pressures linked to the war in Ukraine, which raised the cost of its large wheat imports and hurt tourism in the Red Sea region.
In a separate meeting, the Qatari Finance Minister met with his Egyptian counterpart, Mohamed Maait, during his visit to Egypt.
During the meeting, they reviewed the bilateral relations between the two countries in the financial fields, aspects of joint cooperation, and the most important economic and investment developments.
The Minister of Finance meets with the Egyptian Minister of Finance.
# Qena https://t.co/XCU3io1Jgj pic.twitter.com/tJqdEtHJN6
— Qatar News Agency (@QatarNewsAgency) March 29, 2022
The Qatari Finance Minister also met with the Governor of the Central Bank of Egypt, Tarek Amer, during his current visit to Egypt.
The Minister of Finance meets with the Governor of the Central Bank of Egypt.
# Qena https://t.co/g0hVlsSfJU pic.twitter.com/UyX8LvhDgz
— Qatar News Agency (@QatarNewsAgency) March 29, 2022
The Egyptian-Qatari relations have witnessed many positive steps since the 41st Gulf Summit in the northwestern Saudi city of Al-Ula, in January 2021, according to what was reported by Anadolu Agency.
At that summit, a statement was issued to end a severe crisis that erupted in mid-2017 between Qatar and Saudi Arabia, the UAE, Bahrain and Egypt.