(MENAFN) The European Union and Egypt vowed to enhance collaboration across political, economic, and security domains during their inaugural joint summit on Wednesday.

The EU commended Cairo’s role in mediating a ceasefire in Gaza and formalized new partnership agreements with the country.

"Egypt plays a key role in the region and beyond in promoting stability and conflict resolution," stated European Council President Antonio Costa at a joint press conference, describing the summit as "a significant milestone" in the relationship between the EU and Egypt.

Costa praised Egyptian President Abdel Fattah al-Sisi for his "unwavering engagement and tireless mediation efforts" that led to "the first phase of the ceasefire deal on Gaza," which he said "brought hope to the Palestinian people."

European Commission President Ursula von der Leyen celebrated the summit as evidence that "our partnership is stronger today than ever before," also recognizing Sisi's contributions in facilitating the Gaza ceasefire agreement.

Von der Leyen revealed that the EU is "preparing to launch a Palestine donor group" and is ready to "play its part" in ensuring the ceasefire endures and humanitarian aid is delivered to those in need.

She further emphasized a €5 billion ($5.8 billion) macro-financial aid package and Egypt’s inclusion in the Horizon Europe program, calling the agreement signing "a very special moment."

Von der Leyen also pointed to advancements in cooperation on migration, security, and energy, underscoring that "Europe and Egypt share strategic interests in the stability, security and prosperity of our people."

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