Coinciding with French President Emmanuel Macron’s official visit to Egypt, the Egyptian Ministry of Planning and Economic Development has released a comprehensive report detailing significant advancements in the economic relationship between the two nations. This visit and the accompanying report underscore a mutual commitment to fostering sustainable development and enhancing bilateral partnerships across various sectors.
Targeted Development Support
France’s significant developmental role in Egypt includes dedicated efforts towards gender equality. Women’s empowerment is explicitly identified as a priority within the current French development cooperation portfolio in Egypt, which totals €1.5 billion. These funds support initiatives designed to enhance women’s participation in the economy and society, often integrated within broader projects addressing social protection, healthcare, and education.
This targeted approach is part of a long-standing financial partnership, with France extending approximately €4 billion in loans and grants since 2006, supporting various sectors crucial for overall development, thereby creating an environment conducive to advancing opportunities for all citizens.
Shared Commitment to Social Equity
The collaboration on women’s empowerment is a tangible manifestation of the shared values underpinning the Franco-Egyptian relationship. Both nations recognize the importance of inclusive development strategies:
- Collaborative Projects: Joint initiatives in social development directly address women’s empowerment alongside healthcare and social protection, aiming to foster greater social equity.
- Strategic Alignment: This focus aligns with Egypt’s national development goals and the broader strategic partnership established between Egypt and the European Union in March 2024, which emphasizes sustainable development and cooperation
Historical Context and Strategic Partnerships
The economic relationship between Egypt and France possesses deep historical roots and has experienced substantial growth since President Abdel Fattah el-Sisi assumed office in 2014. Key milestones include:
- High-Level Visits: President el-Sisi has undertaken multiple visits to Paris (2014, 2017, 2020). President Macron attended the inauguration of the New Suez Canal in 2015 and made an official visit to Egypt in 2019.
- Strategic Partnership: In March 2024, Egypt and the European Union elevated their relationship to a strategic partnership, aiming to enhance cooperation in trade, investment, and sustainable development, providing a broader framework relevant to Franco-Egyptian ties.
Developmental Financing and Investments
France has been a pivotal partner in Egypt’s development journey, providing substantial financial support and investments:
- Developmental Financing: Since 2006, France has extended loans and grants totaling approximately €4 billion to Egypt. Of this, €3.5 billion was allocated to the public sector and €500 million to the private sector, supporting projects in transportation, housing, education, health, sanitation, renewable energy, and social protection.
- Ongoing Projects: The current portfolio of French development cooperation in Egypt stands at €1.5 billion, targeting priority sectors including transportation, housing, education, the environment, and women’s empowerment.
Key Sectors of Cooperation
- Transportation: French investments have significantly contributed to Egypt’s transportation infrastructure, notably through the development of metro lines and railway systems aimed at improving urban mobility and reducing congestion.
- Renewable Energy: France actively supports Egypt’s transition to green energy. French companies are key investors in solar and wind energy projects, aligning with Egypt’s national sustainable development goals.
- Social Development: Collaborative initiatives focus on social protection, healthcare, and women’s empowerment, reflecting a shared commitment to inclusive growth and social equity.
Trade Relations and Future Outlook
Bilateral trade between Egypt and France continues to flourish, with both nations actively seeking to expand commercial ties:
- Trade Volume: In 2024, Egyptian exports to France reached €1.1 billion, marking a 22.4% increase from €855.4 million in 2023. Concurrently, imports from France totaled €1.8 billion, up 10.8% from €1.7 billion in 2023. The total trade volume between the countries amounted to €2.9 billion in 2024, reflecting a 14.7% rise from €2.5 billion the previous year.
- French Investments: French companies maintain a strong presence in Egypt, with cumulative investments reaching approximately €5.5 billion. Around 168 French firms operate across diverse sectors such as transportation, water treatment, pharmaceuticals, energy, and manufacturing, collectively employing about 40,000 people.
Conclusion
President Macron’s official visit serves as a testament to the robust and evolving economic partnership between France and Egypt. The significant portfolio of ongoing and planned projects across vital sectors is poised to further strengthen bilateral relations, contributing significantly to sustainable development and mutual prosperity for both nations.
