Qatar, Egypt: Opening new horizons for bolstering ties

In light of the co-ordination, co-operation, and mutual keenness of the Qatari-Egyptian relations by the leadership of the two countries to boost them toward further development in all fields, the Qatari-Egyptian joint supreme committee held its 5th session in Doha on Saturday, under the chairmanship of HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman bin Jassim al-Thani and Egyptian Foreign Minister Sameh Shoukry.
Before the convening of the joint supreme committee between the two countries, the joint preparatory committee between Qatar and Egypt concluded its meeting on Thursday in Doha, where the Director of the Arab Affairs Department at the Ministry of Foreign Affairs Nayef bin Abdullah al-Emadi chaired Qatar’s delegation at the meeting, while the Egyptian side was chaired by Assistant Foreign Minister for Arab Affairs Dr Mohamed al-Badri.
The Israeli aggression against Gaza and its repercussions on the Middle East and the world are at the forefront of the attention of both countries, which requires intensifying consultation and coordination regarding all developments in this thorny issue and other issues that affect the security and stability of the entire region.
The visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Egypt in June 2022 and the visit of Egyptian President Abdel Fattah al-Sisi to Doha on Sept 13, 2022, and his participation in the opening ceremony of the FIFA World Cup Qatar 2022 in November of the same year, had a great impact in opening new horizons for developing and strengthening bilateral relations to cover wide areas of political, economic, and other files and issues, especially in light of the challenges the region and the world are witnessing.
In this context, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman bin Jassim al-Thani met with President al-Sisi on Feb 13, 2024, where they discussed bilateral relations and ways to support and develop them, the latest developments in the Gaza Strip and the occupied Palestinian territories, negotiations to reach a truce, and the expanding cycle of violence in the region and its repercussions on regional and global security and stability.
In turn, on Feb 6, 2024, Qatar Chamber (QC) and Egypt Investment Authority discussed the enhancement of economic and commercial relations between Qatar and Egypt as well as the investment climate and opportunities in both countries. During his meeting with Vice-President of the General Authority for Investment and Free Zones in Egypt Ahmed Abdulhamid, QC First Vice-Chairman Mohamed bin Ahmed bin Twar al-Kuwari said that Qatar and Egypt have enjoyed positive and evolving relations, emphasising the mutual desire to further enhance these relations to encompass broader horizons. He highlighted the promising nature of the Egyptian market, which offers abundant opportunities that are attractive to Qatari investors. He also affirmed the favourable reputation enjoyed by investments in Egypt.
He emphasised that QC warmly welcomes the co-operation between the Qatari private sector and its Egyptian counterpart, highlighting the eagerness of Qatari investors to invest in Egypt.
In the context of economic co-operation, Egyptian Prime Minister Dr Mustafa Kamal Madbouly had said that 261 Qatari companies with a Qatari contribution amounting to $2.165bn operate in the Egyptian market, including $249mn in the tourism sector, about $208mn in the construction sector, and about $36mn in the industrial sector.
He pointed out that in March 2022, Qatar announced pumping $5bn worth of investments. He expressed his country’s aspiration to develop its co-operation and co-ordination with Qatar in various fields, especially in investment, and stimulating trade exchange to serve the interest of the two brotherly peoples, noting that Egypt informed Qatar about the positive developments it has witnessed over the past few years; the projects it adopted in the fields of clean and traditional energy, and the rapid advancement in the transport and communications infrastructure, in addition to the new smart cities, most notably the New Administrative Capital, in co-operation with private sector companies.
The key features of the Suez Canal Economic Zone projects, the first proposal programme, and the completion of the state ownership document, which includes the activities and sectors that will emerge from it in accordance with international standards, were also presented.
He noted that the volume of trade exchange is yet to reach the level of relations that the two countries aspire to achieve, praising in the same context the visit made by the President and members of the Qatari Businessmen Association to Cairo in October 2022, and their meeting with President al-Sisi.
He also highlighted that these visits are an opportunity to enhance co-operation between the two countries, especially in the field of investment, and stimulating trade exchange, calling for increasing the volume of trade exchange in both directions.
Qatari-Egyptian relations, especially the economic, represent an important platform for exploring available investment opportunities and enhancing cooperation through establishing alliances between Qatari and Egyptian companies and diversifying mutual investments. They also enable utilising experiences of both parties, to improve the volume of trade exchange, especially considering Qatar’s success in diversifying its economy by supporting non-oil sectors and encouraging investment in the industrial sector.
The outcomes of the joint higher committee between the two parties are expected to come in line with the ambition and sincere determination of the leadership of the two countries, to co-ordinate positions on regional and international issues, and to support and activate mechanisms for joint Arab action.