Cairo, Egypt – Christian Berger, the European Union Ambassador to Cairo, emphasized that the recent Egyptian-European Investment Conference, held last weekend in Cairo, underscored the EU's commitment to strengthening economic and trade partnerships with Egypt. The conference highlighted collaboration between the private sectors of both regions and resulted in the signing of 29 agreements and memoranda of understanding valued at €49 billion with EU-affiliated companies. Additionally, a memorandum of understanding was signed between Egypt and the EU regarding the first tranche of the macroeconomic support mechanism, worth $1 billion.
In an exclusive statement to the Middle East News Agency, Ambassador Berger explained that the conference aimed to attract diverse European investments to Egypt, particularly in infrastructure, renewable energy, water treatment, and food security. This event was part of the broader strategic partnership between Egypt and the EU.
Ambassador Berger reiterated the EU's commitment to increasing investments in Egypt and enhancing the country's economic resilience. He praised the Egyptian government's efforts to stabilize the financial and investment environment and noted the EU's pledge to support ongoing economic reforms and the private sector in Egypt.
Highlighting the positive development in Egypt-EU relations, Berger mentioned the signing of a political declaration in March, elevating their relationship to a strategic and comprehensive partnership. This partnership focuses on six key areas, with investment being a top priority. Both parties have committed to strengthening cooperation in crucial economic sectors, including trade, infrastructure, energy, agriculture, food security, digital transformation, water security, and small and micro-enterprises.
Economic reforms in Egypt have bolstered investor confidence, and Ambassador Berger expects an increase in European investments in Egypt, especially in new and renewable energy sectors, in the near future.
Ambassador Berger emphasized the continued strengthening of the strategic partnership between Egypt and the EU, based on mutual trust and cooperation in vital areas such as trade, energy, migration, and workforce training. He noted Egypt's pivotal role in regional stability and the EU's commitment to supporting Egypt in becoming a hub for clean energy, which will enhance its regional and international role.
The EU aims to improve the business environment in Egypt, attract more European investments, and create jobs. Berger highlighted Egypt's strategic plans and its favorable position as a gateway for European exports to African countries, given its membership in the African Continental Free Trade Area and the Common Market for Eastern and Southern Africa (COMESA). The EU is also eager to collaborate with Egypt in technology transfer to boost industrial development and workforce training.
Ambassador Berger praised the cooperation between Egypt and the EU in combating illegal migration and human trafficking. He acknowledged the joint efforts to fight human trafficking and prepare the workforce for European markets, strengthening the long-standing friendship and robust relations between Egypt and the EU across various sectors.
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