Egypt and EU strengthen cooperation

The Egyptian port city of Alexandria witnessed the celebration of Europe Week starting on 10 May in a sign of growing cooperation between Egypt and the European Union.

According to Ahmed Al-Wakeel, head of the Egyptian Chamber of Commerce in Alexandria and of the Federation of Mediterranean Chambers of Commerce, the Mediterranean city is home to many European investments and represents Egypt’s gateway to Egyptian-European economic cooperation.

The EU and its member states are increasing their cooperation with Egypt and are supportive of bilateral, regional, and international projects implemented in Egypt in cooperation with various organisations, he said.

The total funding allocated to these organisations has exceeded 200 million euros, making the EU Egypt’s largest partner in terms of investment, trade, science and technology, training, learning and development.

Al-Wakeel said that the private sector is the main driver of Euro-Mediterranean cooperation, accompanied by government cooperation to support innovation and promote investments in order to create job opportunities for young people and improve the business environment in the region.

“Thanks to Egypt’s partners in the EU, active platforms have been established linking cooperation between the Mediterranean countries in various fields and despite the repercussions of the coronavirus pandemic and the Russian-Ukrainian conflict,” he said.

Al-Wakeel said that the continuing turmoil in global supply chains meant that EU member states should now start relying on new partners to provide industrial inputs, with Egypt being “an excellent partner”.