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Egypt’s Sisi, UAE, Israel Discuss Energy and Food Security in Sharm El-Sheikh

March 22, 2022
Courtesy: Egyptian presidency

Egyptian President Abdel Fattah Al-Sisi held a meeting with Israel’s prime minister Naftali Bennett and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan on Tuesday in the Egyptian Red Sea resort of Sharm el-Sheikh, the Egyptian presidency stated.

During the meeting, the leaders shared concerns over Iran, as well the repercussions of global events, especially with regards to energy, market stability, and food security. The leaders also shared their views on the latest developments in the region.

The Crown Prince of Abu Dhabi referred to the critical role Egypt plays in ensuring security and stability in the region, in addition to its efforts to promote joint Arab cooperation.

President Al-Sisi reiterated Egypt’s commitment to ensure “the security of the Gulf, rejecting any threats to destabilise it.”

On Monday, Egypt announced a multi billion-pound package to provide relief for the most vulnerable to offset the economic hardships from the Ukraine-Russia war.

The package is worth nearly EGP 20 billion (USD 1.1 billion), and includes tax breaks, wage rises and pensions, as well as broadening a state support programme for disadvantaged families, Prime Minister Mustafa Madbouly said.

Ali Al-Moselhi, the Egyptian Minister of Supply and Internal Trade, has decided that strict regulations on the trade of local wheat supplies is required in order to shore the country’s strategic reserves of the grain.

The decree stipulates that all registered wheat farmers are obligated to supply approximately 60 percent of yields per feddan to local authorities.

This is the second time that the Israeli Prime Minister Naftali Bennett visits Egypt. The last time he visited Egypt was in September 2021, also at the Red Sea resort town of Sharm El-Sheikh, which marked the first of its kind by an Israeli PM to Egypt in over a decade.

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