Live updates: Follow the latest on Israel-Gaza
Saudi Arabia's Crown Prince Mohammed bin Salman held talks in Egypt on Tuesday with President Abdel Fattah El Sisi, as the two countries search for ways to end the war in Gaza. Officials said the visit by Prince Mohammed takes on added significance because of the critical situation in the region.
Egypt's presidency said in a statement that the two leaders signed an agreement to encourage and protect mutual investments and later witnessed the signing of an accord to form a Supreme Co-ordination Council to deepen co-operation. The new body will be co-chaired by Mr El Sisi and the Saudi Crown Prince.
The two leaders also reviewed efforts to develop the economic partnership between Cairo and Riyadh particularly in investment, trade and economic integration in the energy, transport and tourism sectors, according to the statement.
The leaders also discussed regional developments, particularly the situation in Gaza and Lebanon, the presidency statement continued. "They demanded that steps be taken to reach calm that includes a ceasefire in Gaza and Lebanon,” it added.
Egypt and Saudi Arabia, traditional allies widely seen as pillars of regional stability, tirelessly advocate a two-state solution to end the Palestinian-Israeli crisis, an outcome they view as vital to stability and prosperity in the Middle East.
In 1979, Egypt became the first Arab nation to sign a peace treaty with Israel. Relations between the two countries, however, have been their most tense in decades because of the Gaza war, which has killed more than 42,200 Palestinians and injured more than twice that number, according to the enclave's health authorities. Egypt borders Gaza and Israel.
The war has complicated prospects of Saudi Arabia establishing ties with Israel. Saudi officials have said relations with Israel would be impossible without steps towards recognising a Palestinian state.
Saudi Arabia and Egypt are close allies of the US and are bound by economic, social and cultural relations. The kingdom is host to the largest expatriate Egyptian community and is among Cairo's main financial backers. It has poured billions of dollars in grants, loans and investment into Egypt since Mr El Sisi took office a decade ago.