Egyptian president says relations with EU see ‘positive progress’

CAIRO

Egyptian President Abdel Fattah El-Sisi affirmed on Saturday that the "relations between Egypt and the European Union are experiencing positive progress across multiple domains."

This came during Sisi’s address at the opening session of the investment conference between Egypt and the EU, scheduled for Saturday and Sunday, with the participation of European Commission President Ursula von der Leyen.

The Egyptian president stated that “relations between Egypt and the European Union are experiencing positive progress in various areas of cooperation.”

“This progress culminated in the signing of a political declaration in March, elevating relations between the two sides to the status of a strategic and comprehensive partnership,” he added.

“We are convening for the second time in a brief span to witness the 2024 Egypt-European Union Investment Conference,” Sisi added.

Sisi viewed the conference as "initiating the first practical measures in advancing relations and underscores Egypt and the European Union's commitment to progress from promises to concrete actions."

According to the Egyptian president, the strategic partnership between Egypt and the EU encompasses "six pillars, with investment being the most significant."

He highlighted expectations of mobilizing approximately €5 billion ($5.3 billion) in European investments and providing €1.8 billion in investment guarantees for the private sector.

Sisi also emphasized that these efforts would enhance the EU's role as Egypt's foremost trade and investment partner.

The president emphasized Egypt's commitment as a reliable partner in promoting security and stability in the regional context.

In March last year, the EU unveiled a financing package totaling €7.4 billion for Egypt from 2024 to 2027.

Over the past four years, Egypt has received around $12.8 billion in total funding from Europe.

* Writing by Ikram Kouachi