Egyptian President Abdel Fattah Al-Sisi met with the Spanish Minister of Economy, as well as several Spanish investors, Thursday, in an effort to build stronger bilateral relations with Spain during his Euro-tour.
Al-Sisi is holding meetings with the heads of 15 of the largest Spanish companies, in the presence of Spain’s Economy Minister.
According to Egyptian Presidential Spokesperson Alaa Youssef, the meetings in Spain focused on the “importance” of investments in Egypt.
In addition, state media said that Al-Sisi “made sure to present the programme that the Egyptian government is currently carrying out” in order to attract investors to the country.
State-owned MENA also reported that, during his meeting with Madrid’s businessmen, Al-Sisi stated that Egypt fulfills all “agreements and promises” made to foreign companies.
Al-Sisi also invited all the attendees to the opening of the New Suez Canal, MENA reported.
According to studies made by the Egyptian Centre for Social and Economic Rights (ECESR), there are little to no mechanisms to hold multinational companies accountable for labour, environmental, or other violations.
ECSER lists “several case studies of violations committed by MNCs operating in Egypt that continue to be granted immunity”.
On Wednesday, Al-Sisi signed a cooperation agreement with Cypriot President Nicos Anastasiades and Greek Prime Minister Alexis Tsipras, after discussing bilateral relations.
In an interview with the Spanish newspaper El Mundo, Al-Sisi told the publication that Egypt is seeking stronger ties with Spain and the EU, and is looking for further Spanish foreign direct investments.
Al-Sisi is scheduled to meet with King Felipe VI of Spain, and Prime Minister Mariano Rajoy. This will be followed by an expanded meeting attended by the delegations of the two countries, where they will sign a number of bilateral agreements.
