Egyptian President Abdel Fattah Al-Sisi and his Singaporean counterpart, Tharman Shanmugaratnam, on Saturday witnessed the signing of seven memoranda of understanding aimed at strengthening and broadening the relationship between the two countries.
The agreements, signed during Shanmugaratnam’s state visit to Cairo, cover a wide range of areas, including agriculture, health, maritime transport, social protection, support for small and medium-sized enterprises, and the training of government personnel.
In his own remarks at a joint press conference, President Al-Sisi said he and Shanmugaratnam had discussed the future of their bilateral relations, which are approaching their 60th anniversary.
“Egypt was one of the first countries to recognise Singapore’s independence in 1965, and in fact was the first Arab and African country to do so,” Al-Sisi said.
“The collaborations reflect the two countries’ joint commitment to a deeper and more multifaceted partnership,” Shanmugaratnam said.
Speaking to the media after a meeting with Al-Sisi, the Singaporean president said he believed in Egypt’s economic potential and that the two leaders had discussed how to take their economic cooperation further. He noted that Singapore has been among the largest Asian investors in Egypt over the last decade.
“Such cooperation is particularly important when we see protectionist currents rising, and body blows being delivered to an open and fair global economic order,” he said.
The Egyptian president said the talks had covered ways to maximise investment and trade cooperation, noting that Egypt is open to providing all support for Singaporean investments. “What Singapore possesses in terms of great potential in trade and investment, and what Egypt possesses in terms of attractive investment components… qualifies us to establish a distinguished economic partnership,” he said.
Al-Sisi renewed his invitation for Singaporean companies to invest in the Egyptian market, which he said has seen a major boom in many fields. He added that an Egyptian-Singaporean business forum will be held in conjunction with the visit.
Singapore’s direct investment in Egypt is currently valued at about $530m, while Egypt is Singapore’s eighth-largest trading partner in Africa, with bilateral trade in services valued at over $1.3bn as of 2023.
The two leaders also discussed regional and international issues, particularly the situation in Gaza. Al-Sisi reviewed Egypt’s efforts to reach a ceasefire and deliver humanitarian aid. Both presidents stressed their rejection of the displacement of Palestinians from their land.
Shanmugaratnam invited Al-Sisi to make a state visit to Singapore next year to celebrate the 60th anniversary of diplomatic relations, an invitation which the Egyptian president welcomed.
