Arab Today, arab today egypt\s morsi to visit saudi arabia in bid for aid
Last Updated : GMT 09:34:52
Arab Today, arab today
Arab Today, arab today

Egypt\'s Morsi to visit Saudi Arabia in bid for aid

Arab Today, arab today

Arab Today, arab today Egypt\'s Morsi to visit Saudi Arabia in bid for aid

Cairo - Arabstoday

Egypt\'s new president, Mohammed Morsi, is expected to visit Saudi Arabia today in his first foreign trip as head of state, in recognition of the kingdom\'s long relationship with Egypt and its financial support during the instability following the country\'s uprising. Egypt has struggled to secure aid from foreign donors. It spent much of its foreign currency reserves propping up the domestic currency since the beginning of the uprising that forced the country\'s former president, Hosni Mubarak, to resign early last year. Tourism revenues have dropped precipitously and foreign companies have cut back their investments in Egypt. \"Egypt is in desperate need of support,\" said Abdallah Al Ashaal, a former diplomat in Egypt\'s foreign affairs ministry and law professor at the American University in Cairo. \"This is, in a major way, a trip tailored to the needs of the Egyptian economy.\" Saudi Arabia has been the only country to lend money to Egypt since the uprising began as it awaits a decision on a $3.2 billion (Dh11.7bn) loan from the International Monetary Fund (IMF). The IMF loan, which is still under negotiation, would also provide a seal of approval for Egypt\'s economic plans. Many donors have been waiting for Egypt to secure the IMF loan before agreeing to send aid. Last year after the uprising, Saudi Arabia pledged $4bn in aid to Egypt in the form of long-term loans and grants - money that Mr Moris needs to help shore up Egypt\'s struggling economy. Saudi Arabia has offered $1bn to Egypt\'s Central Bank after election results were announced and another $500 million for general economic assistance. The kingdom also allocated $250m for gas exports to Egypt, Saudi Ambassador Ahmed Kattan was quoted by Mena, the official news agency, as saying. Mr Al Ashaal said the new president would also attempt to assuage fears in the Saudi Arabian monarchy that the Muslim Brotherhood would not try to \"export the revolution\" beyond its borders. Gulf leaders have been wary over the last 18 months of the Muslim Brotherhood and other Islamist groups attempting to unsettle governments across the Mena region. \"He\'ll want to pacify them and clarify that some of the rumours that have circulated aren\'t true,\" Mr Al Ashaal said. \"Saudi Arabia would be happy if Mr Morsi confirms that Egypt and Saudi Arabia are the main pillars of the region and of the same mind.\" Mr Morsi\'s foreign policy agenda has not been fully disclosed, though he has said he would maintain existing treaties and seek to adjust relationships to put them on equal standing. This was seen as a veiled reference to the United States, which has held strong sway over Egypt through $1.3 billion of military aid and close ties to the former president. Mr Morsi has not announced his foreign minister or any other cabinet appointments. Further complicating any foreign policy agenda is the fact that many of the most sensitive files for foreign relations, such as Israel and the Palestinian territories, were placed under the purview of the intelligence agencies under Mubarak. Mr Morsi has little sway with the country\'s intelligence agencies and analysts believe he will not have the power to appoint a new head of the General Intelligence Services because the Supreme Council of Armed Forces has kept control over national security. Some Muslim Brotherhood analysts have predicted that Egypt, under Mr Morsi, would try to cement closer ties with regional countries to prove that Egypt is not entirely reliant on the West. The US is Egypt\'s top trade partner and Mubarak aligned himself with American policies in the region, particularly around the issue of Islamic extremism. \"In order to prove to their support base that they are not reliant on western support, they will try to reorient the country towards the Gulf for investment and tourism,\" said Alison Pargeter, the author of The Muslim Brotherhood: The Burden of Tradition, in 2010. Mr Morsi\'s visit follows more than a year of tensions between the two countries, highlighted by the arrest of an Egyptian lawyer Saudi Arabia in April. The charges of drug smuggling against Ahmed Al Gizawy in Jeddah led to protests outside Saudi Arabia\'s embassy in Cairo and a consulate in Suez, prompting Saudi Arabia to withdraw its ambassador. He returned a week later. Mr Al Gizawy, a human-rights activist, had been a critic of the treatment of Egyptians in Saudi Arabia. He had filed a law suit against the Saudi government, alleging \"detention and torture\" of Egyptians. He has denied the charges and is awaiting trial. Mr Morsi said he would arrive in Jeddah today, where he would perform Umrah and meet King Abdullah. Saudi Arabia\'s ambassador to Egypt, Ahmed Qattan, said they would discuss future investments in Egypt and political ties. \"Relations between the two countries could not be confined to only economic cooperation. They are far more than that,\" said Mr Qattant.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt\s morsi to visit saudi arabia in bid for aid Arab Today, arab today egypt\s morsi to visit saudi arabia in bid for aid

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday