Minister of Planning, Economic Development & International Cooperation Discusses Development of Bilateral and Regional Economic Relations with New EU Ambassador

With the official commencement of her duties in Egypt,
Minister of Planning, Economic Development & International Cooperation Discusses Development of Bilateral and Regional Economic Relations with New EU Ambassador

 

 Dr. Rania Al-Mashat congratulates the new EU Ambassador on her appointment and thanks Ambassador Christian Berger for his efforts during his tenure.

 Dr. Al-Mashat: The European Union is a strategic partner for Egypt in economic relations.

The "Joint Declaration" lays the foundation for a new phase to increase European investments and advance the economic partnership between the two countries.

We aim to expand the scope of shared relations to include additional areas of common development interest.

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held a virtual meeting with Ms. Angelina Eichhorst, the newly appointed EU Ambassador to Cairo, following her official assumption of duties after the completion of Ambassador Christian Berger's tenure.

 

H.E. Dr. Al-Mashat congratulated Ms. Eichhorst on her appointment as Head of the EU Delegation to Egypt, wishing her success in fostering the strategic partnership between the Arab Republic of Egypt and the European Union, which plays a vital role in advancing economic development efforts. She also highlighted the pivotal role played by Ambassador Christian Berger during his time in Egypt, especially his efforts to enhance economic partnerships across various sectors of mutual interest.

 

The Minister emphasized that the partnership with the European Union is of great importance to Egypt, particularly in the areas of trade, investment, and economic cooperation. She noted that in the coming period, there will be increased collaboration with the EU Delegation in Cairo to implement the agreements outlined in the "Joint Declaration" signed between H.E. President Abdel Fattah El-Sisi and European Commission President Ursula von der Leyen last March. The declaration sets a solid foundation for the strategic partnership, with key priorities to strengthen economic cooperation, increase European investments in Egypt, expand development cooperation efforts, and broaden partnerships across various sectors.

 

The meeting also reviewed the progress of the first phase of the Macro-Financial Assistance (MFA) mechanism, under which the EU is set to provide concessional financing amounting to one billion euros as part of the package signed last March. Over the past few months, the Ministry of Planning, Economic Development, and International Cooperation has been coordinating with relevant authorities in Egypt and EU technical teams to implement a set of structural reforms under this mechanism to enhance the competitiveness of the Egyptian economy and improve the business environment.

 

The two sides discussed developments in the Egyptian-European partnership across various sectors, both bilaterally and regionally. This included the implementation of the investment guarantee mechanism announced last March, efforts to align Egyptian exports with the European Union’s Carbon Border Adjustment Mechanism (CBAM), and the ongoing national efforts to implement economic and structural reforms and ensure better governance of public investment spending.