EU President Ursula von der Leyen says cooperation with Egypt can ‘move mountains’

CAIRO - 29 June 2024: EU’s President Ursula von der Leyen participated in the Egypt-EU Investment Conference in Cairo Saturday, along with President Abdel Fattah el-Sisi. 

Von der Leyen announced the signing of more than 20 memoranda of understanding between European companies and Egyptian companies worth more than 40 billion euros. 

The areas of the MoUs include hydrogen, water, construction, chemicals, shipping, aviation, and cars.

Meanwhile, an agreement worth 25 million euros has been signed to provide digital and technological training for Egyptians to produce skilled labor and good jobs.

Relations between Egypt and the EU were raised only in March to Strategic and Comprehensive Partnership, leading the Egypt-EU Investment Conference and dozens of agreements less than 100 days later.

Von der Leyen said that cooperation between the EU and Egypt through the public or private sectors can “move mountains.”

She added that after listening to details of the bigger picture, she believes that the EU and Egypt are not in two different continents, but rather partners of the coasts of the Mediterranean Sea.

Von der Leyen said Egypt is a gateway for Europe, and its welfare is of huge importance to the region, noting that the EU accounts for 40% of all foreign direct investments in the North African country.

Von der Leyen revealed that 1,000 European institutions and companies are in Cairo today to enhance investment opportunities between the Egypt and the EU sides.

On X, the EU’s president wrote “Good to be in Cairo for the EU-Egypt Investment Conference with

@AlsisiOfficial

In March we opened a new chapter in our partnership. Today we deliver.

We invest in Egypt’s clean energy potential

In skills for the youth.

In reforms for a dynamic economy with €1 bn in support.”

She also wrote “The stability of Egypt is important for the region.

In a world of turmoil, we have deepened our relations, building on our historical ties.

Our new partnership reflects this.

We keep working on all strands.

From trade, energy, water, migration, to skills and mobility.”