EU companies to sign 40 billion euros deals with Egypt

EU companies to sign 40 billion euros deals with Egypt

“EU companies are poised to sign more than 20 new deals or Memorandum of Understanding with Egyptian partners, collectively valued at over 40 billion euros,” stated the President of the European Commission.

European Commission president Ursula von der Leyen said European companies were signing more than 40 billion euros’ worth of deals with Egyptian firms, spanning a wide range of industries.

Von der Leyen was speaking at the EU-Egypt Investment Conference in Cairo, where she also held talks with Egyptian President Abdel-Fattah el-Sissi.

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“At this conference, European companies are signing over 20 new deals or MoUs with Egyptian partners, which are worth over 40 billion euros. We have companies in sectors ranging from hydrogen to water management, from construction to chemicals, from shipping to aviation and to automotive,” she said.

Von der Leyen also also touted investments in green energy and digital training, remarking on Egypt’s “ambitious goal of becoming a clean energy hub.”

The two-day conference is part of the Egypt-EU Strategic and Comprehensive Partnership that was agreed by von der Leyen and el-Sissi in March.

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The agreement covers political relations, economic stability, investments and trade, as well as migration and security matters.

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