CAIRO: Egyptian President Abdel Fattah El-Sisi and Sultan of Oman Haitham bin Tariq have agreed on a study to establish a joint investment fund between their two countries, focusing on feasible projects in various vital sectors.
In a joint statement issued on Tuesday, the two leaders confirmed during the Egyptian President’s official visit to Oman that all relevant authorities would discuss investment opportunities in areas such as energy and renewables, industry, health and pharmaceuticals.
During El-Sissi’s visit, Egypt and Oman signed two agreements, six memoranda of understanding, three executive programs and letters of cooperation to promote competition, fight monopolies, promote investment, develop exports, creating and managing industrial zones and protecting the environment, in addition to the mutual recognition of maritime qualification certificates for navigators.
The governments of the two countries also signed a cooperation agreement in maritime transport and ports, as well as a cooperation agreement between Sultan Qaboos University and the Egyptian National Institute for Astronomical and Geophysical Research.
El-Sisi affirmed “Egypt’s willingness in the coming period to develop economic and trade cooperation relations with the Omani business community and companies, and to develop joint investments, to help support economic development…in order to maximize mutual interests and the best use of available opportunities”.
During his meeting with representatives of the business community and heads of major companies in Oman, with the participation of several senior Omani officials and representatives, he underlined that “the qualitative leap that Egypt has recently experienced in the various sectors of development reflects the strong will of the State, with its governmental and popular components, to achieve sustainable development, which will have positive repercussions in strengthening bilateral relations between Egypt and the Sultanate of Oman by opening up gates to maximize existing Omani investments in various sectors.
“The distinguished brotherly relations between the two brotherly countries are the real umbrella to support efforts to develop joint cooperation in various economic fields through the availability of the necessary political will,” El-Sisi said.
The Egyptian leader also mentioned the various investment opportunities in Egypt, foremost among which is the development axis of the Suez Canal Zone, which includes a number of major industrial and logistics zones, and which offers promising opportunities. for Omani companies wishing to benefit from Egypt’s strategic position. location.
El-Sisi arrived in Oman on Monday and an official reception ceremony was held for him.
The talks between the two leaders took place at Al-Alam Palace in Muscat, the Omani capital, and included delegations from both countries.
El-Sisi affirmed Egypt’s “pride in the depth and strength of strategic relations with the Sultanate of Oman”, and its desire to “strengthen and diversify joint bilateral cooperation frameworks, and explore mechanisms to push them towards broader horizons in various political fields, fields of security, economy and trade.
He also praised “the existing level of coordination and unity of vision between the two brotherly countries on issues of common interest”, as well as the “Omani-Egyptian consensus on all regional and international issues”.
Ambassador Bassam Radi, official spokesman for the Presidency of the Republic, said El-Sisi and Sultan Haitham held an extended session of talks, during which the Sultan hailed the “close and brotherly ties histories that unite the two countries”.