Cairo: Muhammad Abdo Hassanein Abu Dhabi – Tel Aviv: «Asharq Al-Awsat»
A tripartite meeting, including Egyptian President Abdel Fattah el-Sisi, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan, and Israeli Prime Minister Naftali Bennett, was held in the Red Sea resort of Sharm el-Sheikh in Egypt.
The Egyptian presidency said in a statement that the leaders discussed the stability of energy markets and food security, two main challenges that Cairo is facing, after the Russian attack in Ukraine, which led to an increase in wheat and crude oil prices, and they also discussed international and regional issues.
In turn, the US State Department said that it welcomes the tripartite summit between Egypt, Israel and the UAE in Sharm el-Sheikh.
The official Emirates News Agency also reported the news of the tripartite meeting, and said that the meeting dealt with “strengthening relations between countries and the importance of cooperation, coordination and consultation, in order to meet the aspirations of development and stability in the region, energy security and stability of global markets.”
Egypt faces major challenges in the fields of energy and food security, after the war in Ukraine put pressure on emerging market economies, which prompted Cairo to devalue the currency by 14%, the day before yesterday. The war also affected the rising costs of Egypt’s wheat import needs, in addition to the loss of tourism revenues from Russia and Ukraine to the Red Sea resorts. These two countries are the main suppliers of wheat to Egypt, which is the largest importer of wheat in the world.
The “tripartite meeting” bears a political desire to “prepare the files of security turmoil,” on top of which is the escalation of the Houthi threats in the region, and what is related to adapting to the negative repercussions of the Russian-Ukrainian crisis, and post-crisis arrangements, in addition to discussing the outcomes of the Iranian nuclear agreement talks, and its reflection on the Various political and security dimensions in the region, according to experts.