Arab Finance: Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, received; Angelina Eichhorst, the new European Union ambassador to Cairo, and her accompanying delegation, This was in the first meeting between the two sides. The meeting witnessed a discussion of various aspects of the economic partnership between the Arab Republic of Egypt and the European Union, within the framework of strategic relations between the two sides.
The two sides reviewed the current position of implementing the first phase of the macroeconomic support and budget deficit support mechanism (MFA). Al-Mashat confirmed the coordination carried out by the Ministry with European Union missions and relevant national authorities, in order to determine the structural reforms implemented, as well as the investment guarantees scheduled to be provided by the European Union, which enhance the investments of European companies in Egypt.
They also discussed opportunities for cooperation in light of the European Union’s direction to implement the European Carbon Border Adjustment Mechanism (CBAM), explaining that the government is working to enhance cooperation with development partners in order to enhance the competitiveness of Egyptian exports through grants that work to support the industrial sector in order to comply with that mechanism.
For her part, the new European Union Ambassador to Cairo thanked Dr. Rania Al-Mashat, explaining that the relationship between the European Union and Egypt has witnessed great development in the recent period, and is a model of constructive partnerships, looking forward to joint work in order to continue developing the economic partnership and building on what has been achieved.
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