Egypt and the European Union said Sunday they have mutually agreed to elevate their relationship to the level of a strategic and comprehensive partnership.
Accordingly, Egypt and the EU decided to formulate and sign an inclusive document on the comprehensive and “strategic partnership,” during the first quarter of 2024.
The agreement was unveiled as a delegation of EU leaders visited Cairo. It is designed to boost cooperation in areas including renewable energy, trade and security, while delivering grants, loans and other funding over the next three years to support Egypt's economy.
A proposed funding includes 5 billion euros in concessional loans and 1.8 billion euros of investments, according to a summary published by the EU. Another 600 million euros would be provided in grants, including 200 million euros for managing migration.
The EU delegation included EU Commission President Ursula von der Leyen, the Italian, Greek, Austrian and Belgian prime ministers, and the Cypriot president.
“Egypt has always accorded special importance to the distinguished relations it shares with the European Union and its countries, stemming from our firm belief in the centrality of the partnership with the European Union to achieve the common political, economic, and security interests of both sides, and therefore supports the achievement of security, peace, and stability in the region,” said Sisi in his opening statement in the meeting with the EU leaders.
As for Von der Leyen, she said that "today we elevate the relationship between the EU and Egypt to a strategic and comprehensive partnership and we agree on a package ranging from trade and investment to low carbon energy, managing migration, and education, culture and youth".
