President Abdel Fattah El Sisi will visit Austria, accepting an invite from Austrian Chancellor Karl Nehammer after the two met in Cairo on Thursday, according to an Ittihadiya statement. The date of the visit is yet to be determined. El Sisi will sign an agreement on migration during the visit, according to an Austrian statement.

El Sisi and Nehammer discussed cooperation on transport, manufacturing, and renewables, as well as regional issues including the conflict in Sudan with their wider delegations, the Ittihadiya statement reads. The Austrian side said Nehammer noted the “great potential” for Austria to import green hydrogen from North Africa while in Cairo.

Austria helps localize our railways: Egyptian National Railways signed an agreement with Austrian company Voestalpine to up capacity at the Abbasiya rail switch workshop and establish a new production line for high-speed rail switches. The authority also signed an agreement with Austria’s Plasser & Theurer to repair and maintain rail maintenance equipment.

Opening the door to Austrian investors: Prime Minister Moustafa Madbouly highlighted the potential for more Austrian investment in Egypt at a roundtable for business leaders from the two countries that he co-chaired with Nehammer.

MEANWHILE- Egypt will host next year’s annual meeting of Arab financial institutions, International Cooperation Minister Rania Al Mashat said yesterday during this year’s edition of the meetings being held in Morocco. The meeting brings together a number of Arab ministers, central bank governors, and representatives from regional and international financial institutions.

ALSO FROM THE MEETINGS- Finance Minister Mohamed Maait discussed the future of taxes amid the global move towards digitization with the Organization for Economic Cooperation and Development’s (OECD) tax chief, Manal Corwin, the Finance Ministry said in a statement. Maait praised the organization’s proposal for a globalminimumcorporate tax, which would subject multinationals to a 15% minimum tax rate.

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