During their meeting in Cairo, Sheikh Tamim bin Hamad affirmed to El-Sisi Qatar’s keenness to make use of the broad range of investment opportunities available in Egypt, Presidential Spokesman Bassam Rady said in a statement.

The Qatari leader visited Egypt for the first time since Cairo and Doha resumed diplomatic ties last year as part of Al-Ula agreement that ended an over three-year-long diplomatic rift.

The two leaders held individual talks at Al-Itihadiya Presidential Palace today followed by expanded discussions between the two countries’ delegations, the statement said.

Since the agreement, Egypt and Qatar have worked on restoring relations in various fields, including economic ties.

Last week, Egypt and Qatar signed an MoU in Doha on financial policy coordination to foster cooperation and coordinate financial visions, positions and policies at the bilateral and international levels.

On the sidelines of the Qatar Economic Forum, Egyptian Minister of Industry and Trade Nevine Gamea said she agreed with her Qatari counterpart, Mohammed bin Hamad bin Qassim Al-Thani, on reactivating the Egyptian-Qatari Business Council.

Gamea pointed to industrial partnerships between 4,500 Egyptian and Qatari companies.

In March 2022, Cairo and Doha agreed on $5 billion in Qatari investments in Egypt during a visit by Qatar's Minister of Foreign Affairs and Deputy Prime Minister Mohamed bin Abdulrahman Al-Thani to the Egyptian capital.

Enhancing bilateral relations

The emir’s visit embodies the progress that the Egyptian-Qatari relations have gone through and paves the path for developing bilateral relations between the two countries in various fields, El-Sisi said.

This comes within the framework of advancing the interests of both countries and their sincere mutual intentions, El-Sisi added.

El-Sisi congratulated Sheikh Tamim on the anniversary of his assumption of the reins of power. For his turn, Qatar’s emir congratulated El-Sisi on the anniversary of the 30 June Revolution.

During the meetings, the Egyptian and Qatari sides have agreed on enhancing bilateral cooperation in various fields, especially in the energy and agriculture sectors.

This is in addition to enhancing cooperation regarding investment, trade exchange, and the flow of Qatari investments to Egypt.

Sheikh Tamim widely praised Egypt’s policies under President El-Sisi at all internal, regional and domestic levels, the statement said.

Sheikh Tamim also hailed the Egyptian community’s contribution in the process of construction and development in the Qatari state in different fields.

There are nearly 230,000 Egyptians working and living in Qatar, according to the latest estimations.

The emir expressed appreciation for Egypt’s pivotal role in serving the Arab issues and efforts to enhance Arab solidarity at all levels.

Palestinian cause, regional issues

During the meetings, the Egyptian and Qatari sides discussed developments in the Palestinian cause as well as the Russia-Ukraine war and counterterrorism efforts.

They agreed on the need for concerted Arab efforts and enhanced joint coordination between Egypt and Qatar to tackle the various crises facing the countries of the region, the statement said.

In this regard, Sheikh Tamim praised the ongoing Egyptian efforts within the process of Gaza reconstruction.

The two leaders agreed on the need to work towards reviving the peace process to reach a fair and comprehensive solution to the Palestinian cause, which ensures the legitimate rights of the Palestinian people and comes in line with the internationally legitimate resolutions.

Egypt and Qatar have both played major roles in the reconstruction of Gaza after the 11 days of Israeli aggression on the enclave in May last year that destroyed hundreds of homes and caused damages to tens of thousands of buildings.

The two countries have pledged $500 million each for Gaza’s reconstruction. In November, Egypt and Qatar signed agreements to supply fuel and basic construction materials to the Gaza Strip to contribute to improving living conditions.

During the meetings, the Egyptian and Qatari sides discussed ways of tackling the negative repercussions of the Russia-Ukraine war on global economy, the statement said.

The two sides discussed horizons of joint cooperation to counter terrorism and extremist thought.

They stressed the need to intensify efforts of the international community within the framework of a comprehensive strategy that includes intellectual and developmental dimensions besides security confrontation.

The two sides welcomed the upcoming summit hosted by the Kingdom of Saudi Arabia, which will gather leaders of the Gulf Cooperation Council (GCC) countries in addition to Egypt, Jordan, Iraq and the United States.

The GCC+3 Summit, chaired by Saudi Arabia, is scheduled for July in Jeddah.

“I was happy to visit the Sisterly Arab Republic of Egypt and meet my brother, his excellency President Abdel-Fattah El-Sisi in Cairo, where we discussed ways to boost our bilateral cooperation in different fields” Tamim wrote on his official Twitter account on Saturday shortly after El-Sisi bid him farewell at Cairo International Airport.

“We also exchanged views on bolstering and activating joint Arab work in a way that achieves the aspirations of our peoples in development and stability and supports the security of the region and the world.”