(MENAFN) Valdis Dombrovskis, Vice-President of the European Commission and European Commissioner for Trade, affirmed the European Union's ongoing commitment to bolstering Egypt's business environment, supporting its macroeconomy, and creating job opportunities in collaboration with the private sector. Dombrovskis underscored Egypt's potential as a promising economy capable of playing a pivotal role in regional affairs.

The European official highlighted the significance of the investment conference as a foundational step in activating the strategic partnership agreement signed in March 2024. He noted that the event commenced with the signing of a memorandum of understanding worth one billion euros, aimed at supporting the Egyptian economy. This agreement marks a tangible manifestation of the EU's dedication to fostering economic growth and stability in Egypt.

Dombrovskis emphasized that European economic support plays a crucial role in enhancing stability across the region, citing Egypt's pivotal role in regional stability, particularly in contexts such as Gaza and Sudan. He pointed out that the European Union has already signed four financing agreements with grants totaling 299 million euros (USD320.32 million). These agreements cover various sectors including employment and private sector development, reflecting the EU's multifaceted approach to supporting Egypt's sustainable economic advancement.

Overall, the European Union's commitment to Egypt extends beyond financial aid, aiming to strengthen economic ties, promote stability, and foster mutual prosperity through sustained collaboration and strategic partnerships. 

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