Egypt, Europe to promote partnership relations in Cairo summit Sunday: Presidency

Ahram Online , Sunday 17 Mar 2024

Cairo is set to host an Egyptian-European summit on Sunday to promote relations between Egypt and the European Union (EU) to the level of "Comprehensive and Strategic Partnership," Egypt’s Presidential Spokesman Ahmed Fahmy stated on Sunday.

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EU headquarters before an EU summit in Brussels. Photo: AP

 

President Abdel-Fattah El-Sisi, President of the European Commission Ursula von der Leyen, Belgian Prime Minister Alexander De Croo, and heads of state and government of Cyprus, Italy, Greece, and Austria will attend the summit.

The summit aims at strengthening cooperation and coordination between the two sides across various fields and serving common interests, Fahmy said.

It will mainly address politics, counter-terrorism, economy, energy, industry, technology, education, and immigration issues, he added.

The summit will also discuss Gaza developments and ways to restore regional security and stability to avert its repercussions on international peace.

Moreover, President El-Sisi is scheduled to hold bilateral meetings with European leaders to enhance relations.

The EU is expected to announce a multi-billion dollar package to support the Egyptian economy.

The EU financing, reportedly worth $8 billion, is part of a larger package of $20 billion that Egypt is expected to receive from its international allies soon.

This financial assistance aims to mitigate the adverse effects of regional tensions on Egypt’s economy, including the Russian-Ukrainian war, the Israel war on Gaza, and the Sudan conflict.

Egypt has suffered a steep hard currency shortage over the past several months. This prompted the government to sign a $35 billion deal with the UAE to develop the coastal zone of Ras El-Hekma.

Furthermore, the government has reached an agreement with the International Monetary Fund to expand its Extended Fund Facility (EFF) loan programme, initially approved in December 2022, from $3 to $8 billion.

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