Spain's King Felipe (R), Egypt's president Abd EL-Fattah El-Sisi and Queen Letizia (L) pose for pictures in the Royal Palace in Madrid, Spain, on Thursday, 30 April 2015 (Photo: Courtney of Spain's Royal Palace Twitter account)
Egyptian President Abdel-Fattah El-Sisi arrived in Madrid late Wednesday from Cyprus as part of a Euro tour that his office said aims to draw badly needed foreign investment.
El-Sisi is scheduled to have talks Thursday with the Spanish economy minister and officials from 16 business giants, to discuss recent steps taken by Cairo to address foreign business concerns, as well as review investment opportunities in Egypt where Spain has over €700 million invested in gas, cement and railways, presidential spokesman Alaa Youssef said.
El-Sisi kicked off his tour Tuesday in Nicosia, Cyprus, where he held talks with Cypriot and Greek counterparts after which the three leaders pledged in a declaration to step up cooperation in the fight against terrorism that threatens Europe and the region.
The presidential spokesman said the Egyptian leader’s moves abroad are aimed at bolstering Egypt’s international role and luring foreign investment, much needed to revive the country’s flagging economy.
In Madrid, El-Sisi will later meet with King Felipe VI and his prime minister to address means of bolstering bilateral ties and to review regional and international issues, namely the threat of terrorism and illegal migration, the MENA state news agency said.
El-Sisi’s visit to Spain comes a month after an economic development conference held in Egypt’s resort town of Sharm El-Sheikh where some 20 Spanish firms took part, according to Spanish officials.
A day ahead of his visit, El-Sisi told the Spanish daily newspaper El-Mundo that the country’s delayed parliamentary elections will take place before the end of 2015. The vote was first scheduled to take place in stages beginning 22 March.
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