Brussels: Europe and the Arabs
On the eve of the first EU-Egypt summit in Brussels on October 22, European institutions said that European Council President António Costa and European Commission President Ursula von der Leyen, representing the European Union, met with Egyptian President Abdel Fattah el-Sisi. A statement distributed in Brussels added, "Egypt is a key strategic partner due to its geographical location and pivotal role in achieving stability in the Middle East."
The European statement detailing the summit quoted Council President António Costa as saying, "Our first bilateral summit will represent an excellent opportunity to strengthen our partnership, cooperate in addressing our common challenges, and unleash the full potential of our relationship.
The summit will focus on bilateral relations and deepening the political and economic partnership, with the aim of promoting stability, peace, and shared prosperity between the two parties.
The two sides will also discuss current global challenges, including the situation in the Middle East, Ukraine, multilateralism, trade, migration, and security.
Regarding cooperation between the European Union and Egypt, the European statement said that in March 2024, the European Union and Egypt signed a comprehensive strategic partnership agreement that strengthens their relations. This partnership focuses on six main axes:
Political relations
Economic stability
Trade and investment
Migration and mobility
Security
Demography and human capital
This comprehensive strategic partnership between the European Union and Egypt is accompanied by a financial and investment package worth €7.4 billion for the period 2024-2027.
Trade
The EU-Egypt Association Agreement entered into force in 2004. It establishes a free trade area between the EU and Egypt by eliminating customs duties on industrial products and facilitating the trade of agricultural products.
In 2024, the EU was Egypt's largest trading partner in goods, accounting for 22% of Egypt's total trade. The value of EU-Egypt trade in goods amounted to €32.5 billion, of which €12.6 billion were imports and €19.9 billion were exports.
Side Event
On the sidelines of the summit, a high-level event titled "Implementing the EU-Egypt Comprehensive Strategic Partnership: Accelerating Strategic Investment, Industrial Transformation, and Innovation" will be held. The event will bring together senior political leaders, business leaders, financial institutions, industry associations, and entrepreneurs from the EU and Egypt on October 22 in Brussels. The event aims to implement and advance the EU-Egypt Forward-Looking Partnership Agenda and pave the way for a more resilient, competitive, and innovative future for the EU and Egypt.