The European Union needs help to stabilize the south of the . Egypt is a key actor in achieving this and for this purpose it has been strengthening its relationship with the regime for some time. This rapprochement was openly staged this Wednesday in Brussels, where the EU held its first bilateral summit with Egypt with a North African country and signed four new agreements, including one that increases European macro-financial assistance to the Arab nation to 5 billion euros, according to .
Egypt, sources from European institutions point out, “plays a key role in stabilizing the conflict in the Middle East,” that is, . But it is not the only element on which Cairo strongly gravitates in regional geopolitics. Egypt also has a lot to say about what happens in its neighboring countries: Libya, Sudan or the Red Sea. And this is essential to mitigate the migratory pressure coming from those bordering areas of the African country in which it has grown and is used by Moscow in the different aspects that it deploys in its hybrid war.
With this framework, the summit with Al Sisi, prior to the European Council this Thursday, marks the end of a relationship that has been growing closer for months. The cooperation agreement between the EU and Egypt is old, it was signed in 2000, when the late Hosni Mubarak was still ruling the Arab country.
In June of last year, however, a further step was taken, as pointed out by the European Commissioner for the Mediterranean, Dubravka Suica, in a high-level meeting with businessmen and representatives of development agencies, international organizations and 15 Member States. “We have improved our relationship to become a Strategic and Global Partnership. This partnership has led to reforms and investments,” said the Croatian.
In this regard, the agreement has been signed that increases the macro-financial assistance that the EU provides to Egypt to 5 billion. Last December, the EU already disbursed 1 billion in credits out of a total of 4 billion initially planned. The agreement signed this Wednesday increases it by another 1,000 million. .
Along with these loans, the EU has also committed to donating 75 million, to support “key initiatives in Egypt aimed at addressing socio-economic challenges and promoting inclusive growth at the local level.” “The program will improve access to quality basic services (health, education, water, sanitation) and complement social safety nets, in particular for women and young people,” added a statement issued by the European Commission.
Strategic partner
“Europe has been Egypt’s main trading partner. Egypt exports almost three times more goods to Europe than to the United States, China, Russia, Brazil and India combined. But last year we decided to take our partnership to the next level and signed a new Strategic and Global Partnership. This is more than a political agreement, as it has begun to yield real economic results,” said Commission President Ursula von der Leyen. “Our shared vision of cooperation and true partnership between Egypt, Europe and the wider Mediterranean is becoming a reality. This is the direct result of the ambitious Strategic and Global Partnership we signed last year, which offers new investments and concrete opportunities for the people and companies of Egypt and Europe,” he added.
“We know how much Europe represents for Egypt’s trade balance, and we know that the investment represents a huge investment,” Al Sisi acknowledged. “This economic event is not something that has arisen today [por este miércoles]. “This is a process that began in March 2024, when the joint decision was made to elevate relations between Egypt and the EU to create a global strategic partnership,” he added.
