Nasr, EU Delegation in Egypt discuss subsidies program

CAIRO – 19 October 2017: Investment and International Cooperation Minister Sahar Nasr met with the EU Delegation to Egypt headed by Ivan Surkos on Thursday to discuss European subsidies for the Mediterranean countries and cooperation priorities.

The minister affirmed that the government’s socio-economic program aims to improve the economic conditions of citizens, especially the low income ones. Nasr highlighted that Egypt’s economic success would contribute significantly to the stability of the Middle East and Europe.

The current economic cooperation program between the EU and Egypt is scheduled to start in 2017 and end by 2020. The two parties probed the activation of current agreements, foundations of strategic partnership, and preparations for the upcoming visit of Johannes Hahn; which is scheduled for this month to witness the signing of multiple development agreements.

Nasr affirmed that the ministry is focusing on increasing investments; stressing that all European investors are welcome in Egypt. The ministry is working on facilitating encouraging measures for investors; in addition to backing all developmental projects in collaboration with all partners to support currently prioritized sectors.

The minister also shed light on the remarkable cooperation between the government, the private sector, and non-governmental organizations. On the other hand, Surkos praised the mutual relations between the EU and Egypt as well as the socio-economic program set by the government.

Surkos also emphasized the EU’s eagerness to strengthen economic and developmental cooperation as an endeavor to support Egypt’s efforts in achieving sustainable and comprehensive development.