Cairo (ANTARA) – Egyptian President Abdel Fattah El-Sisi stressed on Saturday that “relations between Egypt and the European Union (EU) are making positive progress in various fields.”
Sisi stated this in his speech at the opening session of the Egypt-European Union investment conference.
The Egypt-European Union investment conference took place on Saturday and Sunday, attended by European Commission President Ursula von der Leyen.
The Egyptian president said that “relations between Egypt and the European Union are making positive progress in various areas of cooperation.”
“This progress culminated in the signing of a political declaration in March, which elevated relations between the two parties to the status of a strategic and comprehensive partnership,” he added.
“We have gathered for the second time in a short time to attend the 2024 Egypt-European Union Investment Conference,” Sisi further said.
Sisi saw the conference as “the beginning of the first practical steps to advance relations and underline Egypt’s and the European Union’s commitment to moving from promises to concrete actions.”
According to the Egyptian president, the strategic partnership between Egypt and the European Union includes “six pillars, of which investments are the most significant”.
He underlined the hope of mobilizing European investments worth around 5 billion euros (about 87.8 trillion rupees) and providing investment guarantees for the private sector worth 1.8 billion euros (about 31.6 trillion of rupees).
Sisi also stressed that the efforts would strengthen the European Union’s role as Egypt’s main trade and investment partner.
President Sisi also underlined Egypt’s commitment as a reliable partner in promoting security and stability in the regional context.
In March last year, the European Union launched a financing package worth a total of 7.4 billion euros (about IDR 130 trillion) for Egypt from 2024 to 2027.
Over the past four years, Egypt has received total financing of around US$12.8 billion (around Rp 209.8 trillion) from Europe.
Source: Anadolu
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Translator: Katriana
Publisher: Azis Kurmala
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