Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Egypt on Monday, according to Reuters, to begin his first trip outside the Gulf region in over three years. In addition, Ahram Online reported that Prince bin Salman will be meeting with the leaders of not only Egypt, but also Jordan, and Turkey to discuss increasing bilateral relations and areas of mutual interest as well as to discuss the regional impact of the war in Ukraine.
Saudi Arabia and Egypt have close ties as the kingdom has provided billions of dollars through financial partnerships that are expected to be one of the main points of discussion between both leaders. According to a statement from Egypt’s government, Saudi ACWA Power has invested $1.5 billion in a wind power plant in Egypt. According to Al Arabiya, more renewable energy agreements were inked, as well as transactions covering petroleum products, food, and fintech.
In light of this, the visit wielded an outcome of agreements worth $7.7 billion. Those were in the form of investments covering electricity, transportation, industry, and agriculture in addition to other economic fields, as Egypt represents to Saudi Arabia a very huge market where over 100 million live as claimed by Middle East Economy.
According to Reuters, the prince will travel to Amman on Tuesday for discussions with King Abdullah to discuss further ways for both countries to solidify their relations and foster a sense of cooperation on new projects. Turkish President Tayyip Erdogan, on the other hand, has taken steps to improve relations with Riyadh as Saudi investments, according to Bloomberg, might aid Turkey’s economic challenges. Erdogan, who paid his first high-level visit to the kingdom in years in April, announced he will host Prince Mohammed on Wednesday.
“A new era will begin, with complete normalization. During the visit, various agreements in the domains of energy, economy, and security will be inked.”Reuters
We must acknowledge that Saudi Arabia and Egypt have a long history of partnerships, since the two countries’ links have symbolic and practical value for the Arab world, according to Arab News. The two countries have long viewed each other as significant regional friends, a position that dates back to Egypt’s official recognition of Saudi Arabia on May 7, 1936. From 1945 to 1946, King Abdul Aziz and King Farouk paid official state visits to address regional concerns, security, and stability, including the Palestinian crisis, Syria and Lebanon, the emergence of an Israeli state, and strengthening relations between Arab nations with common interests and benefits according to Egypt’s State Information Service.