Speaking in Davos, Abdel Fattah al-Sisi says Palestinian issue remains the Middle East’s top priority

CAIRO / ISTANBUL

Egyptian President Abdel Fattah al-Sisi said Wednesday that Egypt lost about $9 billion in direct revenues from the Suez Canal over two years due to regional instability linked to the Israeli war in the Gaza Strip.

Speaking on the sidelines of the World Economic Forum in Davos, which began Monday in Switzerland and runs until Jan. 23, Sisi said the Suez Canal shipping route was heavily affected by the conflict.

“We lost $9 billion in direct revenues as a result of these events,” from October 2023, when the war began, until a ceasefire agreement was reached in Sharm el-Sheikh last October, he said.

Sisi said Egypt has played a “positive role” in promoting stability in the volatile region, particularly in Gaza.

The Egyptian president stressed that the Palestinian issue “tops the list of priorities in the Middle East.”

“We stress the need to cement the ceasefire in Gaza and allow humanitarian aid to enter.”

With US backing, Israel launched a deadly war on Gaza in October 2023, killing more than 71,000 Palestinians and wounding over 171,000 others.

A ceasefire took effect Oct. 10, but Israel has violated it with daily strikes that have killed 483 Palestinians and wounded 1,294 others.
Israel has blocked the entry of agreed quantities of food, medicine, medical supplies, shelter materials and prefabricated housing into Gaza, where about 2.4 million Palestinians live, including roughly 1.5 million displaced people facing catastrophic conditions.

Sisi welcomed a US announcement on the start of the second phase of the Gaza ceasefire agreement.

This phase includes establishing transitional governance structures, and further Israeli withdrawals and calls on Hamas to disarm.

Commenting on broader regional developments, Sisi said the situation in Lebanon “is moving along a new and sound path,” expressing hope that the country will achieve full stability, economic growth and regain its regional standing.

He also reaffirmed Egypt’s commitment to non-interference in other countries’ internal affairs, and called for preserving the Syrian state and ensuring that “no one is excluded from dialogue and political participation.”

On Egypt’s economy, Sisi said it is moving “in the right direction” and urged investors to invest in the country. By Hussien Elkabany and Lina Altawell, Anadolu Agency