Egypt hosts quadrilateral meeting with Pakistan, Saudi Arabia, and Turkey on regional developments
via Egypt Today1 min read
Egypt hosted the fourth round of a Quadrilateral meeting on Sunday in Cairo with the Foreign Ministers of Pakistan, Saudi Arabia, and Turkey to discuss recent regional developments. This meeting occurred concurrently with diplomatic talks in Switzerland involving the United States, Iran, Qatar, and Pakistan, focused on implementing a recently signed Memorandum of Understanding MoU between the United States and Iran. The MoU, signed by US President Donald Trump and Iranian President Masoud Pezeshkian, aims to end military operations between the two countries, including in Lebanon, and outlines a framework for Iran's nuclear program, reopening the Strait of Hormuz, and lifting sanctions on Tehran. The Iranian Foreign Ministry stated that the Swiss meetings would address aspects of the MoU such as oil sale exemptions, unfreezing Iranian assets, and ensuring a ceasefire in Lebanon. Egypt and other regional partners have advocated for a diplomatic resolution to the Middle East escalation.
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Prime Minister Mostafa Madbouly witnessed the signing of a strategic agreement between Midar for Investment and Urban Development and Majid Al Futtaim Holding. This partnership aims to develop a major integrated urban destination in Mada City, New Cairo, with an initial development value exceeding $3.1 billion. The project, covering approximately 553 feddans, will create a mixed-use destination including around 6,000 residential units, business and service facilities, commercial spaces, leisure destinations, and hospitality units. The first phase will develop about 200 feddans over four years, with a second phase developing an additional 300 feddans. Approximately 60 feddans are allocated for retail, leisure, and entertainment. The overall project value is expected to exceed $4 billion upon completion. Ayman El Qousi, Managing Director and CEO of Midar, stated that the project will operate under a revenue-sharing model, with anticipated future returns to Midar exceeding LE 40 billion. Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding, highlighted the partnership as a key step in the company's growth strategy in Egypt, building on its 27-year presence and approximately $2.8 billion investment in the Egyptian market.
Must ReadEgypt has called for further development of the recently signed US-Iran memorandum of understanding and for advancing negotiations towards a final agreement. This comes as American and Iranian negotiators commenced direct talks in Switzerland on Sunday. Egyptian Foreign Minister Badr Abdelatty discussed the US-Iran negotiation track with his Turkish and Pakistani counterparts during quadrilateral talks in Cairo, which also included Saudi Arabia. Abdelatty emphasized the importance of building on the progress made since the MoU's signing to reduce regional tensions and support Middle East security and stability. He also commended Pakistan's role in securing the MoU, describing it as a crucial step towards de-escalation and a sustainable settlement. Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar acknowledged Egypt's support in the negotiation process. The US and Iranian negotiators are meeting to finalize details of their interim MoU, signed last week after nearly four months of conflict. This initial accord commits both sides to negotiating a final agreement within 60 days, including a ceasefire across all fronts, such as Lebanon, and the reopening of the Strait of Hormuz. The talks are occurring amidst questions regarding the agreement's implementation, following Iran's announcement of closing the Strait of Hormuz, a claim challenged by the US. The US delegation is led by Vice President JD Vance, while Iran is represented by Parliament Speaker Mohamma
The Egyptian and Turkish air forces have concluded a multi-day joint air force exercise held at several air bases in Egypt. The exercise involved a series of training activities and joint aerial sorties, utilizing some of the latest multi-role fighter aircraft from both air forces. According to the Egyptian military, the exercise demonstrated the high proficiency of the participating forces and facilitated the exchange of training and tactical expertise in planning, execution, and command-and-control procedures. This joint exercise is part of ongoing efforts to strengthen military relations and expand cooperation between the Egyptian Air Force and its counterparts in allied and friendly nations.