Shoukry calls on European Union countries to inject more investments into Egypt

Egyptian Foreign Minister Sameh Shoukry called on European Union countries to increase their investments in Egypt, during a meeting with the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, Monday January 22.

“We hope for a more effective participation of European companies in the investment conference planned in Egypt during the year 2024,” Shoukry said, according to the ministry spokesperson.

The head of Egyptian diplomacy is currently in Brussels as part of the meetings of the Association Council between Egypt and the European Union.

“It is important to strengthen economic, trade and investment cooperation between Egypt and the European Union, it is essential to consolidate the strategic partnership and strengthen the competitiveness of both parties on the international scene,” added Shoukry .

Shoukry discussed with his European counterparts economic developments in Egypt, particularly in the renewable energy sector as well as electricity interconnection projects between Egypt and certain European countries, including Greece, and green hydrogen projects.

He also mentioned cooperation with the European Union in the fight against illegal immigration and the fight against terrorism.

The EU signed several financing agreements worth €138 million in May 2022 to support development efforts in Egypt in different sectors, including environment, health, rural and community development and reform. administrative.

The current cooperation portfolio with the European Investment Bank amounts to 3.5 billion euros intended to finance 16 development projects in different sectors.

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