The Jeddah Summit, held under the title “Development and Security”, is one of the most important meetings in this very critical stage due to the circumstances the whole world is going through, which is witnessing a global polar war that has economically multiple effects on the countries of the world, including Egypt.
The importance of the summit, which is being held between the countries of the Gulf Cooperation Council, along with Egypt, Jordan, Iraq and the US side, comes in axes that we summarize as follows:
- Emphasizing the importance of Egypt’s pivotal, leading and influential role in the Middle East, which will be reflected on development rates and moving forward in facing many challenges in managing to confront the effects of war and geopolitical conditions globally and regionally.
- Coordinating the visions with the American side in a regional manner on arrangements, theses and ways that could be a way out of global crises such as the energy crisis and food security crises and the management of basic commodities for the peoples of the region, which should not be employed politically at this current stage
- Discussing the mechanisms of enhancing the attraction of joint US investments with the countries of the region, which is conceivable that the two parties desperately need it, but the Middle East side and Egypt should focus on attracting direct productive US foreign investments away from the axis of aid, the axis of indirect foreign investment or the hot money These investment waves have become unsafe or sustainable and do not serve the development goals in the event of a serious desire to bring about security and development in the Middle East or sustainable economic and political stability for the peoples of the region
- At this summit, Egypt aspires to maintain the Egyptian-American economic performance, but rather aspires to increase and improve the distinguished rates, as the volume of American investments in Egypt amounted to 25 billion dollars, and the volume of trade exchange between Egypt and America reached the 10 billion dollars barrier, and the American market is the recipient of 10% of the volume Egyptian exports abroad.