Egypt, EU take cooperation to strategic partnership

CAIRO, March 17 (KUNA) -- The Egypt-European Union summit, hosted in Cairo on Sunday, led to an agreement to promote the bilateral relations and cooperation to a comprehensive strategic partnership, based on the values of justice, and mutual respect and trust.
The summit Egyptian President Abdulfattah Al-Sisi; President of the European Commission Ursula von der Leyen; Prime Minister of the Kingdom of Belgium, the current President of the European Union Presidency, Alexander De Croo; Prime Minister of the Hellenic Republic, Kyriakos Mitsotakis; Federal Chancellor of the Republic of Austria, Karl Nehammer; President of the Republic of Cyprus, Nikos Christodoulides, and Prime Minister of the Italian Republic, Giorgia Meloni.
During the Summit, President Al-Sisi and EC President Ursula von der Leyen signed a joint statement which charted the course for the comprehensive strategic partnership based on the principles of the UN Charter and other relevant multi-lateral agreements, including the agreement on Egypt-EU partnership for 2021-2027.
The new partnership is expected to be signed in the first quarter of 2024, according to the joint statement.
The draft of the document outlined the priorities of cooperation in the political, security, economic, investment, trade, energy, water, food security, immigration and climate areas.
To underpin this partnership, the EU is proposing a EUR 7.4 billion financial and investment support package for Egypt for 2024-2027; EUR five billion in concessional loans (macro-financial assistance); EUR 1.8 billion of additional investments, under the Southern Neighborhood Economic and Investment Plan; and EUR 600 million in grants, including EUR 200 million for migration management.
On political cooperation, the EU pledged to intensify political dialogue with an EU-Egypt Summit once every two years on top of the annual Association Council; and further promote stability, democracy, fundamental freedoms and human rights, gender equality and equal opportunities.
The EU promised to support Egypt's macro- and socio-economic reforms, including with macro-financial assistance, alongside international partners, and provide support to attract private investments.
The EU will work to mobilise investments to modernise the Egyptian economy, including the green and digital transition, especially under the Southern Neighbourhood Economic and Investment Plan; support the organisation of the Investment Conference in Cairo; and focus on energy: EU investment in interconnections between the two shores of the Mediterranean (GREGY project) and in Egypt's renewable hydrogen industry.
The EU will support the Nexus Water, Food and Energy Initiative, as part of Egypt's climate strategy. Through EUR 35 million in grants, the EU will support Egypt's objective of installing additional renewable energy capacities and improving energy efficiency of electricity generation.
To help mitigate the impact of Russia's war in Ukraine on food security in the southern Neighbourhood, the European Commission created a "Food and Resilience Facility," with EUR 100 million for Egypt to expand grain storage capacity and production.
The EU also pledged to improve wastewater infrastructure and services in Egypt and to reduce pollution and improve public health; expand and upgrade the Helwan Wastewater Treatment Plant in the Greater Cairo Area; and improve wastewater infrastructure and access to sanitation services in the Fayoum Governorate. (pickup previous) mm.hss.gb