Egypt, EU to level up relations to ‘strategic partnership’
EU is reportedly set to provide Egypt with funding package of 7.4 billion euros ($8.06 billion) from 2024-2027 for stabilizing its economy.
Egypt and the European Union signed a joint declaration on Sunday to elevate their relationship to a “strategic and comprehensive partnership.”
The declaration was signed in Cairo by Egyptian President Abdel-Fattah al-Sisi and European Commission President Ursula von der Leyen during a summit between the two sides in Cairo, according to Egypt’s state news agency MENA.
“The European Union acknowledges Egypt as a reliable partner, as well as Egypt's unique and vital geo-strategic role as a pillar of security, moderation, and peace in the region of the Mediterranean, the Near East and Africa,” the European Commission said in a statement.
The partnership between Egypt and the EU covers six common fields: political relations, economic stability, trade and investment, migration management, security, and skills development.
Sunday’s summit comes amid reports that the EU will provide Egypt with a funding package of 7.4 billion euros ($8.06 billion) from 2024-2027 for stabilizing its economy.
Egypt has been under economic pressure due to the ongoing Israeli war on the Gaza Strip, which impacted the country’s revenues from tourism and shipping through the Suez Canal.
Israel has waged a deadly military offensive on Gaza since a Hamas attack on Oct. 7, 2023, which killed nearly 1,200 people.
More than 31,600 Palestinians, mostly women and children, have since been killed in the enclave, and nearly 73,700 others injured amid mass destruction and shortages of necessities.
AA
