Speaking on the sidelines of the Global Gateway Forum 2025 in Brussels, in a forum under the theme “Partnerships in a Geopolitical Age: Time for a New Strategic Dialogue", Al-Mashat emphasized that the summit will discuss prospects for economic and investment cooperation, sustainable development, and key issues related to food security, energy, and green transformation.
Egypt and the EU elevated the bilateral relations to a Strategic and Comprehensive Partnership. Under the new partnership, the EU pledged a €7.4 billion ($8.1 billion) aid and investment package for the country. Egypt received the first tranche of the package, amounting to €1 billion, in January.
Following the elevation of relations, Egypt hosted the first two-day Egypt-EU Summit in 2024, during which deals worth $40 billion were inked.
In a meeting with Annika Eriksgard, Director for Economic and Financial Affairs at the European Commission, Al-Mashat discussed ongoing preparations to sign a Memorandum of Understanding for the second phase of the Macro-Financial Assistance (MFA) and Budget Support Mechanism, a key component of the Egypt–EU partnership. She noted that the first phase, worth €1 billion, was disbursed in December 2024 to support Egypt’s economic stabilization and reform efforts.
The minister also highlighted that Egypt and the European Commission have been holding intensive technical consultations to finalize the package of 87 structural reforms agreed under the second phase of the mechanism. These reforms fall within the framework of Egypt’s National Structural Reform Program and will be implemented progressively over the program period.
Moreover, Al-Mashat presented the English version of the executive summary of Egypt’s National Narrative for Economic Development, describing it as a comprehensive framework for economic reform that extends beyond fiscal policies to encompass real economy sectors. The narrative outlines a clear timetable for structural reforms to enhance competitiveness and empower the private sector.
According to Al-Mashat, the National Narrative is built on three main pillars: ensuring macroeconomic stability through disciplined fiscal and monetary policies; improving the business climate and removing administrative and structural barriers; and supporting green transformation and sustainable development in line with international environmental commitments.
She stressed that the narrative serves as an overarching framework aligning national economic reforms with those supported by the European Union under the MFA program, ensuring full policy coherence between both sides.
Al-Mashat reaffirmed Egypt’s commitment to deepening cooperation with the EU, noting that the upcoming summit will further consolidate shared efforts to promote inclusive growth, resilience, and sustainable investment across priority sectors, including industry, tourism, agriculture, energy, and information technology.
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