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President Abdel Fattah El-Sisi is heading to Djibouti on Wednesday, where he will hold talks with President Ismail Omar Guelleh on regional issues in the Red Sea and the Horn of Africa.
The discussions in the Djiboutian capital will also cover relations between both countries, said the Egyptian Presidency in a statement.
The two presidents discussed the situations in the Red Sea and the Horn of Africa as they met on the sidelines of the 33rd Arab Summit in Bahrain last year.
Amid tensions in the Red Sea due to the Israeli war in Gaza and the subsequent attacks by Yemen’s Houthis on several ships, the two leaders emphasized the critical need to restore calm in Bab Al-Mandeb Strait
They stressed the importance of coordinating efforts among Red Sea riparian states and of enhancing their joint cooperation, as the main stakeholders in the stability of this region.
Tensions in the Red Sea have have harmed Red Sea navigation and disrupted maritime traffic through the global key trade route of the Suez Canal.
Houthisโ attacks have prompted many vessels to avoid the canal in favor of longer routes, negatively impacting Egypt’s economy.
Egypt reported a monthly revenue drop of about $800 million from the Suez Canal due to the tensions in the Red Sea.
In 2024, canal revenues plummeted by over 60% compared to 2023, resulting in an estimated loss of $7 billion for the country.
Egypt and Djibouti last January emphasized the necessity of strengthening cooperation among countries bordering the Red Sea to protect their interests and national security, and to confront various threats.
