MIC: EU gives Egypt 150 mln Euros annually

Ministry of Planning and International Cooperation announced that Egypt received 2 billion Euros from European Union since 1996, average of 150 million Euros annually.

In his speech, in the name of Planning and International Cooperation Minister Faiza Abul Naga, the ambassador Gamal Bayoumi said the European Egyptian relations succeeded in creating new cooperation away from any deflections. This made the European Union became Egypt’s first social partner without interfering in its sovereignty.

He rejected the calls of doing away with the foreign aids which reach $40 billion annually; referring that the real crisis is not doing away with these aids but it’s the ability to regain those aids from other sources.

During signing twinning protocol between Ministry of Supply and Internal Commerce and EU, he added that Egypt needs laws of consumers’ rights not consumers’ protection. He mentioned the effective role of the European Commission in supporting all Egyptian dire cases on both the economic and political arena.