Brussels: The high-level economic forum between Egypt and the European Union took place today in the Belgian capital, Brussels, on the sidelines of the first Egyptian-European summit. The event was attended by His Excellency the President of the Republic, Ms. Ursula von der Leyen, President of the European Commission, and numerous Egyptian and European ministers, officials, and businessmen. The Egyptian Commercial Service (ECS) played a significant role in preparing and arranging the forum, as well as coordinating the visit of the President of the Republic.
According to State Information Service Egypt, the forum included three sessions focused on strengthening economic ties between Egypt and the European Union. The first session, titled "Building a Strategic Investment Corridor between Egypt and Europe," discussed macroeconomic reforms, regulatory environments, and Egypt's industrial potential. It emphasized strategic investments in critical infrastructure and sustainable industrial value chains to enhance mutual resilience and long-term growth.
The second session centered on enhancing industrial competitiveness and sustainable value chains. It highlighted the importance of public and private investment in future industries, clean technologies, and cooperation between the EU and Egypt to modernize Egypt's industrial base and access new market opportunities.
The third session focused on strengthening Egypt's innovation ecosystem by fostering links between industry, academia, and business incubators. Discussions covered applied innovation, digitalization, and industrial modernization, aiming to accelerate technology deployment and support local manufacturing.
Dr. Abdelaziz Al-Sharif, head of the ECS, noted that European companies hold approximately pound 34.8 billion in foreign direct investment in Egypt, making the EU the largest investor in the country. Major European investments are concentrated in the energy sector, with significant involvement from Italian, French, and British companies.
Egyptian investments in Europe remain limited, ranging between pound 5 and pound 6 billion. The European Union is also Egypt's leading trading partner, accounting for about 27% of Egypt's foreign trade. In 2024, trade between Egypt and the EU reached pound 32.2 billion, with exports totaling pound 12.5 billion.
The ECS Office in Brussels, led by Minister Plenipotentiary Nasser Hamed, was instrumental in organizing the forum and the President's visit. The office coordinated with various European entities, promoting the event and facilitating discussions that led to the announcement of negotiations for a Sustainable Investment Facilitation Agreement (SIFA) between Egypt and the EU.
The office's efforts included drafting the final statement of the Egyptian-European summit and presenting proposals to enhance industrial, commercial, and investment cooperation. The economic forum underscored the strategic partnership between Egypt and the European Union, aiming to strengthen trade, investment, and economic collaboration.