A new economic and investment package of 7.4 billion euros to Egypt for the next four years (2024-2027) provides the “Joint Declaration for a Strategic and Comprehensive Partnership” of the two sides” signed between Ursula von der Leyen and Abdel Fattah al-Sisi.

Read the Euro-Egyptian Joint Declaration in detail (English)

The strategic and comprehensive partnership between the EU and Egypt covers six pillars of mutual interest for Europe and Egypt: Political relations, Economic stability, Investment & Trade, Immigration, Security, People and skills.

In her speech, Ursula von der Leyen emphasized on political relations that the EU and Egypt will intensify the political dialogue on issues of regional importance. “Together we will work towards our commitment to advance democracy and human rights,” he stressed, adding that a Summit will be held once every two years, in addition to the annual Association Council.

The second pillar concerns economic stability. “We will financially support your reform efforts, together with international partners. This is actually the biggest part of our €7.4 billion package,” the Commission president said.

The third pillar concerns investment and trade. “Egypt is already benefiting greatly from the Southern Neighborhood Economic and Investment Plan. But we can do more together. That’s why we’re supplementing it with additional investments of 1.8 billion euros as part of today’s package. And we will be happy to support the EU Investment Conference in Egypt in Cairo later this year,” said Ursula von der Leyen.

In this context, the President of the Commission emphasized that energy investments are a central element of EU-Egypt cooperation with the joint statement making reference to the GREGY electricity interconnection project. “Together we develop it GREGY electrical interconnection project. To connect Egypt with Greece. Bringing the two shores of the Mediterranean closer together. Egypt also has the resources to become a renewable energy hub, especially when it comes to renewable hydrogen,” stressed Ursula von der Leyen, noting that Egypt is willing to attract foreign investment and has signed a Memorandum of Understanding for this.

Regarding the fourth pillar, migration and mobility, Ursula von der Leyen said that the EU and Egypt already have a very good cooperation in this area, adding that the EU willto invest at least 200 million euros from the current package to make this cooperation even more effective. “We will continue our work to facilitate legal immigration,” emphasized the President of the Commission, citing the “company skills agreements” as an example. At the same time, he underlined “we continue to count on the control of illegal immigration from Egypt. From border management, to combating smuggling and return”.

The fifth pillar is about security and law enforcement. “We have an established cooperation in the fight against terrorism. And we will strengthen it”, underlined the President of the Commission.

“The last pillar – in many ways, it’s the most important – is about people, their skills and research. Student exchanges under the Erasmus+ program are already thriving. Egypt can now negotiate its membership in other EU programs such as Creative Europe and Horizon Europe. This will deepen the ties between our people on both sides of the Mediterranean,” he added.

During the signing of the Euro-Egyptian agreement, Ursula von der Leyen noted that these discussions are taking place in a time of crisis. “We are all extremely concerned about the war in Gaza and the unfolding catastrophic humanitarian situation. Gaza faces famine. This is unacceptable. It is critical to reach an agreement on a ceasefire quickly now that will release the hostages and allow more humanitarian aid to reach Gaza,” he said, calling on Egypt’s president to broker a ceasefire.

We must lay the foundations for the implementation of our goals and deepen our relations with her Egyptpointed out Kyriakos Mitsotakis from Cairo in his placement in the Plenary of the Synod.

About migratory the prime minister emphasized that “It is important to make sure that no more avenues of illegal immigration will be opened or human trafficking”, as well as that “we will not tolerate the violent displacement of Palestinians to other countries».

Egypt

Before the start of the talks of all parties, Mr Kyriakos Mitsotakis met privately with Egyptian President al-Sisi.

The prime minister expressed his satisfaction with the upgrade of EU-Egypt relations to Comprehensive and Strategic cooperation, the implementation of which was spearheaded by Kyriakos Mitsotakis.

He also underlined the need for Egypt’s cooperation in the management of illegal immigration, so that a new migration corridor from Libya to Crete does not open.

Upon meeting him with Fatah al-Sisi, Kyriakos Mitsotakis expressed his satisfaction for the level of bilateral relations and for energy cooperation with emphasis on the Greece-Egypt electrical interconnection project GREGY Interconnector.

During the meeting, the decision of the two leaders to upgrade and deepen the strategic relationship of the two countries with the establishment of the Greece-Egypt Supreme Cooperation Council (SCC), the first meeting of which will be held in Athens in the next period of time, was confirmed.

Finally, the prime minister thanked for the organization of visiting Shiva.

“The oasis of Shiva is of special importance for the cultural relations between Greece and Egypt, as there is the oracle of Amon Ra which was visited by Alexander the Great in 331 BC,” he said.