Brussels: Minister of Planning, Economic Development, and International Cooperation Rania el Mashat met with Stefano Sannino, Director General for the Middle East, North Africa, and the Gulf at the European Commission, to discuss progress in activating pound 1.8 billion in European investment guarantees.

According to State Information Service Egypt, the meeting took place on the sidelines of the second Global Gateway Forum, held in Brussels, Belgium, from October 9-10. Mashat commended the rapid developments in Egyptian-European relations since the signing of the strategic partnership agreement between the two sides in March 2024.

Mashat highlighted the European mechanism as a key pillar of the strategic partnership, aimed at mobilizing private investment and encouraging more European companies to increase their investments in Egypt. She emphasized that the National Narrative for Economic Development, launched by the Egyptian government, is an economic reform program that extends beyond the financial sector to include sectors of the real economy. The program also outlines a timetable for implementing structural reforms to empower the private sector and enhance competitiveness.