Doha and Cairo are pursuing a $7.5 billion package of direct Qatari investment in Egypt, the two Arab nations said in a joint statement on Monday.

"The two sides emphasized the importance of strengthening economic cooperation... they agreed to work toward a package of direct Qatari investments totaling $7.5 billion, to be implemented over the next phase," Qatari official media said, citing the statement issued a visit by Egypt's President Abdel Fattah al-Sisi to the gas-rich Gulf state.