Back to the complete issue
Sunday, 26 June 2022

Qatari Emir is in Cairo + Ethiopia accused the EU of taking sides

Qatari emir in Cairo as tensions thaw further: Qatari Emir Sheikh Tamim bin Hamad Al Thani held discussions with President Abdel Fattah El Sisi on Saturday, during the Sheikh’s first visit to Egypt since the two countries normalized relations in early 2021.

Investment at the top of the agenda: The two leaders discussed boosting cooperation in energy and agriculture, upping trade flows, and “maximizing Qatari investments in Egypt,” according to an Ittihadiya statement. However, no concrete investments were announced by the time the emir left Cairo on Saturday evening.

We’re expecting inflows from Qatar: Trade Minister Nevine Gamea and other officials have been in Doha to drum up Qatari investor interest in our economy in recent weeks. The country has joined its Gulf neighbors Saudi and the UAE in offering to help shore up our economy amid global headwinds, in March pledging to invest USD 5 bn.

It’s a summer of love in the neighborhood: Diplomacy has been a priority for our Gulf neighbors lately. Saudi Crown Prince Mohammed bin Salman last week visited Egypt, Turkey, and Jordan in a landmark tour, in part to pave the way for the upcoming July summit hosted by Saudi Arabia between US President Joe Biden, GCC countries, Egypt, Jordan, and Iraq. El Sisi and Bin Hamad Al Thani welcomed the approaching summit.

This has renewed calls for a MENA Nato: Jordan’s King Abdullah II yesterday told CNBC that he would back the formation of a Middle East version of Nato. “I’m hoping what you’re seeing in 2022 is this new vibe, I guess, in the region to say, ‘how can we connect with each other and work with each other’,” he said.

Bin Hamad Al Thani’s visit got wide coverage from the international press: The Associated Press | Reuters | AFP | The National.

ALSO IN DIPLOMACY-

  • Ethiopia has branded as “biased” and “unacceptable” a joint EU-Egypt statement that references the need to return to African-Union led negotiations over the Grand Ethiopian Renaissance Dam (GERD). (Ethiopian News Agency)
  • President Abdel Fattah El Sisi gave a virtual speech at a BRICS summit between Brazil, Russia, India, China and South Africa, where he said developing countries should not be forgotten amid the global economic crisis. (Speech)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.