H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, received H.E. Amb. Angelina Eichhorst, Ambassador of the European Union to Egypt, to discuss avenues of joint cooperation and review developments in the strategic partnership between the two sides.
During the meeting, H.E. Dr. Rania Al-Mashat emphasized the depth of Egypt–EU relations, which are undergoing a strategic transformation under the leadership of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt. She highlighted that this transformation has accelerated since the elevation of relations to a strategic partnership in March 2024 and the announcement of the €7.4 billion European financial package for Egypt. She explained that the Ministry of Planning, Economic Development and International Cooperation is keen to ensure continuous coordination between national and European entities to implement the economic dimension of this partnership.
The two sides discussed the future of strategic and bilateral relations, particularly regarding economic cooperation and efforts to attract investments through the €1.8 billion investment guarantee mechanism. In this context, Al-Mashat reaffirmed that the upcoming Egypt–EU Summit, scheduled for October in Brussels, will further consolidate the partnership, reflecting the convergence of visions between both sides and their commitment to common interests to achieve development, strengthened by the historic ties between Egypt and the European Union.
H.E. noted that the continued development of Egypt–EU relations coincides with the economic transformation underway in Egypt, as the government advances its reform agenda through the launch of “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience.” This roadmap aims to maximize the benefits of the advanced infrastructure built over the past decade to enhance competitiveness, shift toward higher-productivity sectors, empower the private sector, localize industry, attract investments, and improve the efficiency and flexibility of the labor market.
Al-Mashat highlighted the strong partnership with the European Union, especially in areas of mutual interest that will shape the future of economic relations, including green hydrogen, renewable energy, digital transformation, SME development, and investment promotion. H.E. further emphasized that Egypt welcomes cooperation with the EU within the framework of the “Global Gateway” initiative, which promotes partnerships with friendly countries in advancing the green transition and digital transformation.
The meeting also addressed Egypt’s efforts to adapt to the EU’s Carbon Border Adjustment Mechanism (CBAM), and the measures taken by the Government to drive the green transition in the industrial sector in order to enhance the competitiveness of Egyptian exports under this framework. Discussions further covered the progress of the partnership supporting enhanced administrative and public economic governance in Egypt, in cooperation with the European Union and the Organization for Economic Cooperation and Development (OECD).
It is worth noting that Egypt received €1 billion from the European Union under the Macro-Financial Assistance and Budget Support mechanism at the end of last year. The Ministry of Planning, Economic Development and International Cooperation is closely following up on the implementation of the second phase of the agreement within the framework of the National Structural Reform Program.