Egypt and Sweden held the fourth round of political talks in Cairo on Tuesday. The discussions were co-chaired by Ambassador Wael Hamed, Egypt’s Assistant Foreign Minister for European Affairs, and Mikael Lindvall, Director General for Global Affairs at the Swedish Ministry for Foreign Affairs. The talks focused on strengthening ties between the two nations, particularly in economic cooperation and investment.
Strengthening Economic Ties
The talks addressed the progress of Egypt and Sweden’s economic and investment cooperation. Ambassador Wael Hamed highlighted the continued efforts to improve these areas. One of the key topics was the planned visit of the Swedish Minister for International Development Cooperation and Foreign Trade to Cairo next month. During this visit, the second session of the Egyptian-Swedish Business Forum will take place. This forum is expected to boost business relations and open new doors for investment.
EU-Egypt Partnership and Future Goals
Another important aspect of the talks was the EU-Egypt Strategic and Comprehensive Partnership. Egypt expressed its desire for Sweden’s ongoing support within the European Union. A key focus was securing the disbursement of a €4 billion second tranche of a larger €7.4 billion macro-financial assistance package from the EU. This funding is critical for Egypt’s continued economic development and growth.
Sweden’s Support for Egypt’s Economic Development
The Swedish side acknowledged the strong economic relationship between the two countries. Over 250 Swedish companies are currently operating in Egypt. These companies play a significant role in advancing the Egyptian economy, contributing to job creation and investment. Sweden’s support has been instrumental in fostering these partnerships, further solidifying the ties between the two nations.
Looking Ahead: Future Cooperation
The discussions also included a review of future cooperation, with both sides emphasizing their commitment to further strengthening bilateral ties. Egypt expressed hope for continued Swedish support in various sectors, including trade, development, and macro-financial assistance. The Egyptian government is optimistic about the outcomes of the upcoming business forum, which is expected to deepen economic ties and increase Swedish investment in the country.
Sweden’s Role in Egypt’s Economic Recovery
Sweden’s involvement in Egypt’s economic recovery efforts has been significant. As both countries continue to collaborate, Sweden remains a key partner in Egypt’s journey towards economic stability. The discussions underscored the importance of continued partnerships to address economic challenges and promote mutual growth.
