Minister of Investment and Foreign Trade Hassan el-Khatib and Head of the European Union Delegation to Egypt Ambassador Christian Berger discussed joint co-operation projects and programs as well as ways of promoting economic relations and increasing the rate of intra-trade and joint investments between Egypt and EU Member States in the coming period.

Minister Khatib said that coordination is maintained between relevant ministries to tackle challenges facing the sectors of investment and industry along with outlining solutions and measures meant to secure further facilitation for investors.

The Ministry of Investment and Foreign Trade is keen on enhancing the movement of foreign trade to Egypt in a way that maximises the benefit from the distinguished trade relations between Egypt and member states of major global and regional economic blocs, Khatib said.

He added that the EU is deemed Egypt’s top trade and investment partner.

The meeting reviewed agreements and Memorandums of Understanding (MoU) signed
during the Egypt-EU Investment Conference at a total value of 67.7 billion euros, with the aim of pumping investments in the domain of green hydrogen, electric vehicles, infrastructure, sustainable transportation projects, communication, information technology and other fields.

Also, strategic partnership between the EU and Egypt, which is valued at euros 7.4 billion and provided in the form of grants and loans until the end of 2027, was tackled during the meeting.

Egypt and the EU are partners in the fields of trade and investment, the EU ambassador said, adding that relations between the two sides are positively developing in all domains in light of elevating bilateral relations to strategic and comprehensive partnership.

Berger emphasised the EU’s keenness on co-operating with Egypt in the domains of improving the business environment and attracting more European investments to the Egyptian market.

Source: State Information Service Egypt