Arab Finance: President Abdel Fattah El-Sisi and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud agreed to join forces and boost bilateral cooperation, according to a statement.
During the Crown Prince’s visit to Egypt, the two leaders stressed the need to develop and implement practical measures to remove obstacles that could hinder increased trade and investment flows between the two countries.
In the first half (H1) of 2026, the kingdom was Egypt's top BRICS importer, as exports reached $1.8 billion.
Addressing the current regional situation, El-Sisi affirmed Egypt’s strong support for Saudi Arabia’s sovereignty, stability, and territorial integrity, as well as freedom of navigation in international maritime waterways.
Both sides agreed on ensuring the freedom and security of maritime navigation in the Strait of Hormuz, Bab el-Mandeb, and the Red Sea, highlighting the importance of maritime security to regional stability and trade.
Earlier this week, oil prices witnessed a surge exceeding 3% amid strikes on Saudi Arabia’s energy infrastructure. The East-West pipeline was temporarily shut following a drone attack.
