EU Signs $8B 'Strategic Partnership' With Egypt

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Facts

  • The EU and Egypt on Sunday signed an investment and migration pact worth €7.4B (US $8.06B) in Cairo, providing financial support to the North African country with the aim of increasing European energy security and combatting the irregular flow of migrants to the EU.1
  • The four-year 'strategic and comprehensive partnership' reportedly involves €5B ($5.4B) in concessional loans to support economic growth, €1.8B ($2B) worth of investments, and €600M ($653M) in grants, including €200M ($218M) for migration management.2
  • European Commission Pres. Ursula von der Leyen, who traveled to Cairo with five other EU leaders, said the agreement underscored Egypt's strategic position in a 'very troubled neighborhood,' and the country's crucial role in the region's stability.3
  • Further talks between the EU and Egypt reportedly covered industrial settlement, technology transfer, and workforce training. Energy cooperation, particularly in power generation and natural gas, was also believed to be a central topic.4
  • The Gaza conflict was also discussed, with Egyptian Pres. Abdel Fattah el-Sisi calling for a cease-fire.4
  • EU border agency Frontex recorded a 50% surge last year to almost 158K migrants crossing the Mediterranean to Europe compared to 2022. Meanwhile, Egypt — the Arab world's most populous country — is experiencing an economic crisis, including high inflation.5

Sources: 1EUobserver, 2EgyptToday, 3Guardian, 4Dailynewsegypt and 5www.euractiv.com.

Narratives

  • Pro-establishment narrative, as provided by EUobserver. This historic deal proves Europe can take action in times of global disruption and tension amid the ongoing war in Gaza. This agreement recognizes the strategic importance of Egypt, which borders Gaza, and will help secure Europe's energy security while providing Cairo with much-needed financial assistance. Closer strategic ties will also help promote democracy, fundamental freedoms, and human rights.
  • Establishment-critical narrative, as provided by Middle East Monitor. This deal proves how little the EU values democracy and human rights. The EU is willing to cooperate with North African authoritarian regimes — including Egypt and Tunisia — when it's concerned about access to energy and increased migration. By bolstering the el-Sisi regime with deals of this type, the EU is complicit in Cairo's ongoing human rights abuses.

Predictions