Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah El Sisi in Neom at the end of last week, where the two leaders agreed to expedite the launch of the Egyptian-Saudi Supreme Coordination Council as the umbrella framework for bilateral ties, according to a statement. The council will steer new partnerships in industrial integration, tech localization, transport, renewable energy, and urban development. Both sides also stressed the importance of boosting joint investment and trade.

On the sidelines of El Sisi’s state visit, Egypt’s Industry and Transport Minister Kamel El Wazir held talks in Riyadh with the Saudi Secretary-General of the Supreme Coordination Council to advance preparations for the council’s first leaders’ summit, according to a statement. The meetings highlighted the entry into force of the Egypt-Saudi agreement on promoting and protecting mutual investments, which will unlock new Saudi inflows and support cross-investment by Egyptian companies in the kingdom.

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