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Wednesday, 22 June 2022

It’s been a big week for diplomacy

Egypt-Qatar business ties continue to grow: Trade and Industry Minister Nevine Gamea invited Qatari companies to visit Egypt to discuss potential investments during talks in Doha this week that saw the two sides revive a joint business council eight years after it was suspended, the ministry said in a statement Monday.

We’re expecting bns of USD in fresh investment from the Gulf state: Qatar has joined the UAE and Saudi Arabia in offering to invest bns of USD to help Egypt’s economy and public finances withstand the impact of the war in Ukraine and rising interest rates. The Gulf state said in March that it would invest USD 5 bn, and earlier this month a number companies, including two of the country’s biggest real estate developers Ezdan Holding and Qatari Diar⁠, expressed interest in investing.

ALSO IN DIPLO-

  • Egypt holds EastMed security talks: Defense Minister Mohamed Zaki discussed security issues in the Eastern Mediterranean with his Greek and Cypriot counterparts in Cairo on Monday. (Statement)
  • An Egyptian delegation is in Iraq to study the establishment of a water treatment plant on the Euphrates River similar to our EGP 18 bn Bahr El Baqar wastewater treatment plant. (Cabinet statement)
  • (A trade delegation of execs from the local textile and clothing industries made a rare visit to Israel. (AFP)

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