President von der Leyen travels to Cairo to advance the EU's Strategic partnership with Egypt at the joint Investment Conference

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President von der Leyen travels to Cairo to advance the EU's Strategic partnership with Egypt at the joint Investment Conference

28.06.2024 Press and information team of the Delegation to EGYPT

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President von der Leyen travels to Cairo to advance the EU's Strategic partnership with Egypt at the joint Investment Conference

President of the European Commission Ursula von der Leyen travels to Cairo to participate in the EU-Egypt Investment Conference, where she will deliver the opening speech together with President of the Arab Republic of Egypt, H.E. Abdel Fattah El-Sisi, on 29th June.

The joint Investment Forum, which takes place in Cairo on 29th and 30th of June, is a first key deliverable of the Egypt-EU Strategic and Comprehensive Partnership agreed by the two Presidents in March 2024. The Partnership covers political relations, economic stability, investments and trade, migration and mobility, security and demography, and human capital.

President von der Leyen will be accompanied by Executive Vice-President Valdis Dombrovskis and Neighbourhood and Enlargement Commissioner Olivér Várhelyi. The Conference will bring together some 1,000 participants, including Egyptian and EU Ministers, senior officials, European financial institutions and CEOs from a wide range of sectors from both the EU and Egypt.

Executive Vice-President Dombrovskis will, on behalf of the EU, sign the Memorandum of Understanding for the short-term macro-financial assistance of up to €1 billion to support Egypt's economic reform programme designed to strengthen the Egyptian economy's resilience and potential. It is part of the €7.4 billion package announced by President von der Leyen in March to support the Strategic and Comprehensive partnership with Egypt. The conference will feature a large number of signatures of investment deals with European companies as well as bilateral cooperation agreements with the EU to advance employment and skills, vaccines manufacturing, food security and sustainable development.

The conferenceaims to further promote investment opportunities in key sectors such as renewable energy, including renewable hydrogen, circular economy, manufacturing (pharmaceutical, medical and automotive sectors), agriculture/food and water security, innovation and digitalisation. These sectors have been identified by both sides for their potential to contribute to Egypt's sustainable development and economic diversification.

Follow the opening address of the Investment Conference by President von der Leyen on EbS

. Photo and video coverage will be provided by EbS of the event. More information is available in the Factsheet - EU-Egypt Strategic and Comprehensive, and the Joint Declaration on the Strategic and Comprehensive EU-Egypt Partnership