CAIRO: A two-day meeting of the Egyptian-Saudi Coordination Council kicked off Monday in presence of 10 Egyptian Ministers of Foreign Affairs, International Cooperation, Housing, Planning, Education, Investments, Agriculture, Transportation, and Electrify with their Saudi counterparts in Riyadh.
Egyptian Minister of Housing Mostafa Madbouly will review the ministry plan to attract Saudi investors to establish housing and construction projects in the new administrative Capital on Cairo-Suez Desert Road.
Meanwhile, Minister of International Cooperation Sahr Nassr will discuss obtaining soft loans from the Saudi Fund for Development to establish development projects, particularly in Sinai, Youm7 reported.
The meetings came in the third phase of negotiations between both sides; following crystallizing all bilateral agreements in the fifth round of meetings, both President Abdel Fatah al-Sisi and Saudi Monarch Salman bin Abdulaziz will sign the final agreements.
In November, Egypt and Saudi Arabia signed an agreement to form the strategic coordination council between both sides as an implementation of July-signed Cairo Declaration, per which both Egypt and Saudi Arabia agreed to boost military cooperation via forming joint Arab unified forces; to enhance power, electricity, and transportation cooperation; achieve economic integration; increase the mutual Egyptian-Saudi investment; and to deepen media and culture cooperation.