Brussels, 29/01/2001 (Agence Europe) - Last Friday, the EU and Egypt have signed the new Association Agreement that opens the way for a new era of cooperation between the parties, by going, beyond the economic and trade issues. The agreement, whose finalisation had been differed on several occasions (see EUROPE of 25 January, p.14), will only enter into force once ratified by the parties.
The agreement, of the same kind as those concluded in other countries of the region, is part of a new Euro-Mediterranean partnership covering security, the economy, and social relations and should lead to the creation of a Euro-Mediterranean free trade area in 2010. The agreement foresees a more advanced liberalisation of bilateral trade between the EU and Egypt and, it forms this regard to this, a clear message to European and international business circles in favour of direct investment in Egypt. Moreover, the new agreement foresees the establishment of new institutional structures enabling to intensify the political dialogue and cooperation in fields such as education, culture and the fight against organised crime.