His Majesty Sultan Haitham and President Sisi express eagerness to increase economic cooperation; instruct establishment of a joint investment fund for diverse sectors

Muscat – His Majesty Sultan Haitham bin Tarik and President Abdul Fattah el Sisi of the Arab Republic of Egypt reaffirmed their keenness in augmenting the volume of economic cooperation between the two countries. The two leaders also instructed establishment of a joint investment fund between the two countries to invest in feasible projects in diverse sectors.

This was stated in a joint statement on Tuesday on the occasion of the visit of the Egyptian President to Oman. The text of the joint statement reads as follows:

‘Stemming from the ancient fraternal relations and firm cooperation between Oman and Egypt, and in response to the gracious invitation from His Majesty Sultan Haitham bin Tarik, President Abdul Fattah el Sisi of the Arab Republic of Egypt paid an official visit to Oman along with a high-level delegation.

‘His Majesty the Sultan and President Sisi held official talks in the spirit of kinship and harmony. The two leaders reiterated their firm mutual desire to strengthen bilateral cooperation towards broader horizons in all spheres and levels in a manner that serves the mutual benefit of the two countries and their brotherly peoples.

‘The two leaders lauded the continuous cooperation and coordination maintained in political, diplomatic, economic and cultural fields. They also affirmed their support for everything that serves the pillars of security, stability and peace in the region and the world at large and boosts the welfare and growth of the two countries’ peoples.

‘The two leaders also expressed their keenness in upgrading economic cooperation between the two countries and developing all aspects of bilateral relations. In this regard, the two leaders underlined the role played by the Joint Committee and Omani-Egyptian Business Council in developing areas of bilateral cooperation.

‘His Majesty and the Egyptian President instructed all departments concerned to explore investment opportunities in various fields, particularly energy, renewable energy, industry, health, pharmaceuticals, real estate development, tourism, petrochemicals, and information technology for the mutual benefit of both sides.

‘This is in light of the lucrative opportunities enjoyed by the two countries to develop economic relations, boost investments and strike partnerships, as well as augment the volume of trade and the constructive role of the private sector to achieve integration between the two countries.

‘To this end, the two leaders instructed the establishment of a joint investment fund between the two countries to invest in feasible projects in diverse sectors.

‘The two leaders also exchanged views on various issues of mutual interest in regional and international arenas. They also underscored the importance of dialogue, resolving disputes through peaceful means and coordinating the stances of the two countries in a manner that serves their interests and contributes to bolstering regional and international cooperation based on international law, principles of justice, fairness, respect and non-interference in the internal affairs of others.

‘His Majesty the Sultan congratulated the Arab Republic of Egypt on the occasion of Egypt winning the bid to host the 27th edition of the UN Climate Change Conference (COP-27), which will be held in November 2022 in Sharm el Sheikh.

‘President Sisi expressed his appreciation to His Majesty the Sultan and the Omani government and people for their warm welcome and generous hospitality extended to him and his accompanying delegation.

‘The Egyptian President wished the sultanate further progress and prosperity. He also extended an invitation to His Majesty the Sultan to visit Egypt. The invitation was welcomed by His Majesty.

‘A number of agreements and memoranda of understanding were signed during the visit of President Sisi in various fields, namely in protecting and promoting investments, exports development, environment protection and establishing and managing industrial estates, as well as cooperation in the fields of youth and sports, labour and training, and higher education.’