“Al-Mal” publishes the most prominent items of the “partnership priorities” between Egypt and the European Union until 2027

The document on the partnership priorities between Egypt and the European Union until 2027, approved during the participation of Sameh Shoukry, Minister of Foreign Affairs, at the ninth meeting of the partnership between the two sides, held in Luxembourg in mid-June. , said that the Union will work closely with Egypt to put forward joint practical proposals to help The government aims to increase its competitiveness and market transparency, improve existing trade and investment relations and have full respect for the terms of trade and competition in the agreement.

Observe the regulations of the World Trade Organization

The most prominent items of the document – of which Al Mal received a copy – added that the agreement will be implemented in a way that enables it to reach its full potential, noting that for the sake of health and safety to better protect consumers, the European Union will support the transformation of sustainable food systems, as well as the development of frameworks for action Effective for consumer safety, taking into account both WTO regulations, internationally agreed sanitary and phytosanitary standards and accompanying EU rules.

To attract European investment

In a related context, the two sides will work closely together to attract and promote European investment, by enabling an empowering investment environment, considering investment opportunities in the Suez Canal Economic Zone, and pursuing a more open and sustainable trade policy. implement and improve the regulatory framework.

The document indicated that the European Union will support Egypt’s policies regarding the promotion of e-commerce and digital, regulation of competition, and the improvement of its investment capabilities by improving the business climate and developing the Egyptian information strategy. and communication technology.

She added that the European Union and Egypt are key trading partners, noting that the two parties will jointly identify appropriate methods to improve bilateral trade and investment relations in the coming period, in addition to improving competitiveness and ensuring access to goods and services to the relevant markets, in accordance with the regulations of the World Trade Organization.

Availability of the first tranche of 240 million euros

Data disseminated by the Ministry of Foreign Affairs stated that the European Union had approved the multiannual indicative program 2021-2027, noting that the first part would be made available under the umbrella of the program at a value of 24 million euros during the period 2021-2024 to support Egypt in the field of green and sustainable development, and human development, economic resilience, building prosperity through green and digital transformation, social cohesion, and a modern and democratic state according to identified priorities.

The data from the Ministry of Foreign Affairs added that the program will enable Egypt and the European Union to work closely together on long-term sustainable economic and social recovery, and accelerate the transition to a circular and green economy, and support the implementation of the pioneering initiatives. of the economy and investment plan for the new Mediterranean agenda.

The Association Council has approved the new partnership priorities that will lead to relations until 2027, in line with the European Union’s new agenda for the Mediterranean region, its economic and investment plan, and Egypt’s strategy for sustainable development – Vision 2030.

Guided by the priorities of engagement, the EU and Egypt will further deepen their dialogue and cooperation on the three overarching priorities: (a) a sustainable modern economy and social development, (b) foreign policy partnership, and (c) promoting stability.

It is worth mentioning that the ninth meeting of the Association Council between the European Union and Egypt was held on 19 June in Luxembourg City.

Diversification of energy sources

According to the partnership document, the European Union and Egypt will work together to diversify energy sources and the transition to a low-emission economy, with a special focus on renewable energy sources, energy efficiency measures and the gradual transition to low-carbon and sustainable resources. of land transport, as well as in the field of shipping and aviation.

The document added that the union, at the request of the Egyptian government, will support efforts to update the integrated energy strategy, which aims to meet the requirements of sustainable development in the country and reduce greenhouse gas emissions.

She indicated that strengthening the energy and climate dialogue between the European Union and Egypt would help to identify the key areas of cooperation, and pointed out that the dialogue could include supporting Egypt’s efforts to establish an energy center in the region. to become, with a focus on the field. of renewable energy, and ongoing cooperation within the framework of the East Gas Forum, the Mediterranean, and the implementation of mutually beneficial energy projects, including coupling between the two sides.

According to the document, the Union and Egypt will also work together on joint research, exchange of experiences and technology transfer, and on strengthening sub-regional cooperation (within the Mediterranean region), with an interest in the conservation of marine ecosystems in the Mediterranean. Sea.

Strengthening cooperation to consolidate ecotourism

The European Union and Egypt will also work to strengthen cooperation to consolidate the concept of ecotourism, including the protection of biological diversity in Egypt and the Mediterranean, in particular in the management of nature reserves and the restoration of degraded resources.

As stated in the document, the two parties will work together to promote action on climate and the environment to bring about sustainable development, in line with their commitments under the United Nations Framework Convention on Climate Change, the Paris Agreement and the Glasgow Climate Resolutions.

The European Union and Egypt will work together to achieve the goals set in the 2030 Development Agenda, and will support the government’s efforts to promote its green transformation, green growth and job creation, the potential and use of its energy resources. improve, use renewable energy and efficiency, strengthen management and identify environmentally friendly development paths.

Promote sustainable finance

The document added that the union will support Egypt in promoting sustainable financing, including green bonds, the adoption of environmental sustainability standards in its domestic investment portfolio, and the improvement of its capabilities to produce and export renewable energy in the form of electricity. and renewable hydrogen in particular.

Support in water resource management

Support will also be provided in the management of water resources, in addition to other areas of common interest, such as biodiversity conservation, sanitation, solid waste management, including the reduction of industrial pollutants, the management of chemicals and hazardous waste, and the control of desertification and soil degradation. .

Cooperation for the Mediterranean

The partnership document states that Egypt and the European Union are also exploring the opportunities offered by the Union for the Mediterranean (UfM) for cooperation in the fields of climate, environment and blue economy, and working to strengthen cooperation for the transition to sustainable food systems , including sustainable management of agriculture and fisheries, Conservation of natural factors of production to improve food security.

She added that the European Union and Egypt will work together as key partners to advance the social and economic goals set out in Egypt’s “Sustainable Development Strategy 2030”, and will improve resilience, build prosperity and the transition to a digital and green economy support.

She pointed out that Egypt is committed to achieving long-term social and economic sustainability, through several things, including creating an environment that is more conducive to inclusive growth, and creating decent and productive jobs, especially for the youth and women, by encouraging integration. of the informal sector in the formal economy.

She emphasized that achieving long-term economic sustainability would include measures that could generate more fiscal space to better implement the sustainable development strategy, pursue subsidy and tax reform, strengthen the role of the private sector and improve the business climate. . to attract more foreign direct investment, through a more open and sustainable trade policy, and support major infrastructure projects, such as the development of an efficient, reliable and sustainable transport system.

She added that given the importance of developing SMEs to achieve sustainable and inclusive growth, this sector will continue to play a key role in the EU’s cooperation with Egypt.

In addition, the Federation will support the government’s efforts to reform public administration and good governance by improving quality statistics, taking into account the digital revolution, relevant new business and society models.

According to the document, the union will continue to play an important role in supporting the business environment and sustainable economic growth, including major tangible initiatives in priority sectors, such as the development of sustainable means of transport and public transport infrastructure, and supporting Egypt’s transition to electric mobility.

Strengthening the digital infrastructure

ITU will also support the strengthening of digital infrastructure, in particular universal access to improved, affordable and secure networks.

The two parties will work more closely together in research, innovation and development of digital technologies, including artificial intelligence and cyber security, while protecting the right to privacy, in addition to identifying ways to protect and preserve cultural heritage, whether tangible or intangible, and relevant proposals for joint co-operation measures in this regard.

To address the negative impact of the COVID-19 pandemic on the tourism sector in Egypt, the Federation will work with the government to improve opportunities in this area.

Submitting proposals to help consolidate trade and investment ratios

◗❙Diversification of energy sources and conversion to a low-emission economy

◗❙Research, innovation and development of digital technologies, including artificial intelligence and cyber security

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