Egyptian Minister of International Cooperation, Dr. Rania Al-Mashat, conducted a virtual meeting with Mr. Gert Jan Koopman, Directorate-General Neighborhood and Enlargement Negotiations (NEAR) at the European Commission.
The meeting focused on the close economic relations between Egypt and the European Union. The main purpose is to enhance the economic partnership between the two sides to facilitate joint development efforts.
They discussed the upcoming investment conference between Egypt and the European Union, including the guarantees that the European Union will provide to private sector companies totaling 1.8 billion euros to promote foreign direct investment in Egypt.
Additionally, they talked about the mechanism of the European Fund for Sustainable Development, which will offer guarantees to the private sector and provide financing opportunities and special guarantees for private sector financing and investments in neighboring countries, particularly Egypt.
Minister Al-Mashat emphasized the importance of mutual relations with the European Union, especially after President Abdel Fattah El-Sisi and Ursula von der Leyen, President of the European Commission, elevated the relationship to a strategic partnership during the Egyptian-EU Summit last March.
She further mentioned that the Ministry of International Cooperation is working on coordinating with various national entities and the EU to discuss mechanisms for supporting the macro-economy and budget support to reinforce the economic and structural reforms undertaken by the state.
