Egyptian President Mohamed Mursi traveled to the Kingdom of Saudi Arabia (KSA) on Wednesday, on his first trip abroad after being named president.

Mursi met Saudi King Abdullah Abdel Azziz on Wednesday, performed Umrah (pilgrimage to Mecca) early on Thursday and is expected to meet 300 diverse representatives from the Egyptian community living in the KSA later today.

"Saudi-Egyptian relations will see progress, development and prosperity in the coming period, after President Mursi visited the KSA and after the successful discussions that took place between him and King Abdullah Abdel Azziz and Crown Prince Salman Bin Abdul Aziz", said Egypt's Foreign Minister Mohamed Kamel Amr as reported by the Middle East News Agency.

Amr added that Egypt-KSA collaboration is the cornerstone of Arab cooperation where any progress in the relationship benefits the entire region.

In regards to Saudi investments in Egypt, Amr expressed wishes that the next period would witness noticeable progress in light of Egypt’s post-uprising efforts to attract investors by protecting them and removing obstacles through negotiation.

Meanwhile, Mursi’s acting spokesperson Yasser Ali said that Mursi and the Saudi King discussed a possible increase in Saudi investments in Egypt as well as providing more job opportunities for Egyptians in the Kingdom.

Ali added that Mursi and Crown Prince Salman Bin Abdul Aziz discussed investment-related issues, including guarantees offered by the Egyptian government.

Mursi and the Saudi Crown Prince discussed making easier Hajj and Umrah for Egyptians who wish to perform them as well as collaborating to face challenges together while promoting regional cooperation and activating the role of the Arab League.

Ali added that the discussion addressed the issue of Egyptian detainees in Saudi prisons, hinting that there may be good news soon.