On Sunday, the European Union and Egypt announced that they had reached a mutual decision to advance their cooperation into a strategic and all-encompassing alliance.

In light of this, Egypt and the EU agreed to draft and sign a comprehensive agreement on a “strategic partnership” in the first quarter of 2024.

When a group of top EU officials visited Cairo, the deal was announced. In addition to providing grants, loans, and other funds to strengthen Egypt’s economy over the next three years, it is intended to increase cooperation in sectors such as commerce, security, and renewable energy.

A summary released by the EU states that 1.8 billion euros in investments and 5 billion euros in concessional loans are part of the planned budget. Grants totalling an additional 600 million euros would be given, of which 200 million would be used to manage migration.

Along with the president of the EU Commission Ursula von der Leyen, the prime ministers of Italy, Greece, Austria, and Belgium as well as the president of Cyprus were part of the EU delegation.

“Egypt has always accorded special importance to the distinguished relations it shares with the European Union and its countries, stemming from our firm belief in the centrality of the partnership with the European Union to achieve the common political, economic, and security interests of both sides, and therefore supports the achievement of security, peace, and stability in the region,” said Egyptian President Abdel Fattah el-Sisi in his opening statement in the meeting with the EU leaders.

As for Von der Leyen, she said that “today we elevate the relationship between the EU and Egypt to a strategic and comprehensive partnership and we agree on a package ranging from trade and investment to low carbon energy, managing migration, and education, culture and youth”.

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