Cairo hosted the Economic Forum of the Union for the Mediterranean (UfM) from October 19 to 22, bringing together government representatives, private-sector leaders and development partners to explore ways to strengthen regional investment, expand trade and create jobs across the Euro-Mediterranean region.
Held in cooperation with the European Union and with support from the German Agency for International Cooperation (GIZ), the forum focused on improving the business environment, enhancing economic competitiveness and strengthening the role of companies in driving sustainable and inclusive growth.
The opening session was attended by European Union Ambassador to Egypt Angelina Eichhorst, Ambassador of the Federal Republic of Germany to Egypt Jürgen Schulz, UfM Senior Deputy Secretary-General Mariam Diallo, and CEO of the Grand Egyptian Museum Ahmed Ghoneim. UfM Deputy Secretary-General for Economic Development and Employment Meltem Büyükkarakaş also attended.
The forum coincided with a meeting between Fadi Haj Ali, Acting Secretary-General of the UfM, and Egyptian Foreign Minister Badr Abdelatty to discuss regional developments and preparations for the organisation’s 11th Regional Forum, scheduled to take place in Barcelona next month.
UfM Senior Deputy Secretary-General Mariam Diallo said the event reaffirmed the UfM’s commitment to regional economic integration, trade and investment facilitation, and stronger and more sustainable partnerships across the Mediterranean.
She stressed that investment extends beyond capital flows and project development to include investment in human capabilities, innovation and production, which are essential to building more prosperous and stable societies.
UfM Deputy Secretary-General for Economic Development and Employment Meltem Büyükkarakaş welcomed Egypt’s hosting of the forum, saying Cairo provided a platform to advance regional dialogue towards practical partnerships that could expand investment, production and export opportunities for businesses in Egypt and other Mediterranean countries.
She highlighted the importance of simplifying procedures and improving access to finance and markets, in cooperation with the private sector, to translate regional opportunities into sustainable growth and employment.
European Union Ambassador to Egypt Angelina Eichhorst underlined the need to deepen economic integration between the two shores of the Mediterranean, arguing that the region should increasingly function as an integrated economic space connecting businesses, investment, value chains and people.
She noted that the European Union accounts for 42.1% of the region’s total exports, making it the region’s leading trading partner by a significant margin. However, she said substantial opportunities for further economic cooperation remain untapped.
Ambassador of the Federal Republic of Germany to Egypt Jürgen Schulz said trust was the main driver of investment and that coordinated efforts could turn reforms into investment and employment opportunities. He reaffirmed Germany’s commitment to working with European partners in support of regional development.
High-level sessions examined regulatory reforms, streamlined procedures and measures to facilitate trade and investment. Discussions also explored opportunities in regional value chains, the digital economy and information and communications technology, alongside ways to strengthen public-private partnerships and attract sustainable investment.
The forum’s programme included workshops and capacity-building sessions on digital trade, e-commerce and cross-border transactions, as well as the revised regional convention on pan-Euro-Mediterranean preferential rules of origin and its implementation.
The conclusions and recommendations from the discussions will be compiled into policy briefs to support regional economic-development dialogue and help inform implementation of the European Union’s Pact for the Mediterranean.
The event also provided a business-to-business networking platform designed to help companies arrange meetings and develop partnerships during and after the forum.