The two Arab allies signed a cooperation agreement to boost military and economic ties

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Friday - 31 July 2015

Egypt and Saudi Arabia have signed a pact in Cairo on Thursday aimed at boosting military and economic ties. The two allies also agreed to establish their maritime boundaries in the Red Sea.

According to Al Jazeera, in a statement released after a meeting between President Abdel Fattah el-Sisi and Saudi defence minister and Deputy Crown Prince Mohammed bin Salman on Thursday, el-Sisi’s office said the two leaders also will work to create a joint Arab military force.

“The two sides stressed the need to exert all efforts to boost security and stability in the region, and to work together to protect Arab national security,” Egypt’s presidential office said. The pact signed is called “Cairo Declaration,” and besides the military cooperation Egypt and Saudi Arabia, promised to enhance cooperation and investments in the energy and transport sectors.

According to the Cairo Declaration issued Thursday, both countries agreed to boost the military cooperation via forming joint Arab unified forces; enhance power, electricity, and transpiration cooperation; achieve economic integration; increase the mutual Egyptian-Saudi investment; and deepen   media and culture cooperation.

The Egyptian economy is under stress, and since the 2013 ouster of Egyptian Islamist President Mohamed Morsi, Saudi Arabia offering billions in aid to Egypt to help the government stabilize its public finance and support growth.

According to the international media, in return of the economic aid, the Egyptian government participates in the Saudi-led bombing campaign against Houthi rebels in Yemen. According to the Cairo Post, Egypt has interests in joining the coalition as it announced that it will not “tolerate” the closure of Red Sea’s Bab al-Mandeb Strait by the Houthis.