"The Arab Republic of Egypt values the direction taken by Saudi Arabia to remove points of tension on the regional level,” read the statement that was posted by the Spokesperson of the Egyptian Presidency Ahmed Fahmy.

“[This direction] affirms its commitment to principles and aims of the United Nations Charter in respecting the sovereignty of states, non-interference in their internal affairs, adhering to the principles of good neighbourliness, and enhancing security and stability in the region," the Egyptian presidency said.

"Egypt looks forward to this development having a positive impact on Iran's regional and international policies," it stressed.

"[This development] presents an opportunity to Iran confirm its orientation towards pursuing a policy that takes into account the legitimate concerns of the countries of the region, in a way that enhances opportunities for cooperation and consolidation of positive communications among them to chart a path that meets the aspirations of the peoples of the region for prosperity and progress," the Egyptian presidency added.

On Friday, after years of tensions, Iran and Saudi Arabia agreed to re-establish diplomatic ties and reopen embassies in a deal that was brokered by China.

The agreement includes a commitment to respect the sovereignty of countries and non-interference in their internal affairs, according to the Saudi Press Agency (SPA).

It also includes a commitment to respect the sovereignty of countries and non-interference in their internal affairs.

According to the terms of the agreement, the foreign ministers of both countries will meet to activate the agreement, arrange the exchange of ambassadors, and discuss ways to strengthen relations.

Additionally, the security cooperation agreement signed in 2001 and the general agreement for cooperation in various fields signed in 1998 will be activated.

The three countries - Saudi Arabia, Iran and China - expressed their commitment to enhancing regional and international peace and security, added SPA.

The Egyptian Foreign Ministry had issued a statement on Friday welcoming the agreement and expressing hope that it would ease tensions in the region and contribute to stabilising and preserving the capabilities of Arab national security.