Egyptian President Abdel Fattah El-Sisi and French President Emmanuel Macron (Photo: Ahram Online)
Macron defeated his far-right rival Marine Le Pen in a presidential election, securing him a second five-year presidential term.
El-Sisi hailed the “close, growing, and historical” relations between Egypt and France, expressing his aspiration to continue consultations and mutual coordination on regional and international files of common interest.
Cairo and Paris shared financial interests that included massive arms deals. Between 2016 and 2020, French arms sales to Egypt increased by 44 percent, compared to the period between 2011 and 2015.
Egypt is the second largest customer of French arms after India, with military purchases focused on Rafale jets and advanced electronic surveillance systems.
Furthermore, France is has invested €4.6 billion in Egyptian infrastructure projects, including €800 million in government loans, €1 billion from the French Development Agency, and €2 billion in bank loans guaranteed by the French state.
Trade between Egypt and France also amounted to $3 billion in 2020 — up by 20 percent from 2019. There are 160 French companies operating in Egypt, employing 40,000 workers, and investing around €5 billion.
Additionally, Egypt and France see eye to eye concerning the situation in Libya, with both countries calling for the withdrawal of foreign forces from Libyan lands.