The EU, with 27 member-states, is the third largest economy in the world. The EU has 16% of the world population with a GDP of about €10957.9 billion, which surpasses the US GDP. The EU is also is the largest donor of official development assistance to developing countries. The EU and Egypt signed an Association Agreement in 2001 that entered into force on June 1, 2004 and incorporates cooperation in trade, economy, education and industry. Cairo is also engaged in the European Neighborhood Policy (ENP) by adopting the action plan of the neighborhood policy in April 2007.
The following are evidence of the strong EU-Egyptian economic cooperation:
Image Source: Reuters Pictures
EPC | 23 Apr 2020
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