Egypt PM's visit symbolizes strategic weight of Gulf

KUWAIT: Current visit by Egyptian Prime Minister Essam Sharaf reflects the strategic significance and weight of the Gulf region through Egypt's perspective, said the Egyptian Ambassador. Taher Farhat said the visit by the premier would signal a new turn for further promotion of the bilateral ties for realizing higher aspirations in this respect, as desired by the two brotherly countries, out of keenness on fruitful cooperation with Kuwait and the other Gulf states.
It also affirms the solid ties bounding E
 gypt and the brotherly Kuwait, he stressed.

Recounting remarks made by Sharaf during his visit to Saudi Arabia, on Monday, the ambassador said the ties between Egypt and countries of the region are historic, noting that Cairo views "intervention in the internal affairs of other states as a red line" and stressing that the security of the GCC states "is part of Egypt's security.

On status of the Egyptian economy following the recent events, the diplomat affirmed that it has remained solid noting that the authorities in Cairo ensure full protection of foreign investments.

Among the positive aspects of the sound status of the economy is the huge reserves of the hard currencies, insuring bank assets and continuous work at the Suez Canal, the diplomat noted. He also indicated that Kuwaiti entrepreneurs have continued launching businesses in Egypt at the local and public levels, to the extent that Kuwait has become the second largest "exporter of external investments to Egypt.

He affirmed the strategic nature of the bilateral ties, based on respect of the laws, national interests and moralistic dealing. He also asserted that the recent events in Egypt would result in boosting the development and investments, namely the Kuwaiti enterprises. Sharaf's visit to Kuwait followed a visit to Cairo by a Kuwaiti delegation of economic figures on April 7 for discussing investment cooperation. His Gulf tour is primarily aimed at discussing means of promoting ties between Cairo and the state
s of the region, namely Kuwait, Saudi Arabia and Qatar.