Nikolaos Zaimis: Insights on the Impending EU-Egypt Partnership – Part 1
In an exclusive interview with Mr. Nikolaos Zaimis, Minister Counsellor and Head of Trade Section at the EU Delegation to Egypt, at the European Commission headquarters in Cairo.
This insightful conversation shed light on the forthcoming strategic partnership between the European Union (EU) and Egypt, set to be officially announced at the joint investment conference on June 29-30, 2024. The event is expected to enhance the EU-Egypt relationship, promising significant economic, political, and social advancements for both regions.
The conference is expected to be a pivotal event, attended by key figures including Egyptian President Abdel Fattah al-Sisi and the President of the European Commission, Ursula von der Leyen.
we posed a series of meticulously crafted questions to understand the essence of the partnership announcement between the EU and Egypt, analyzing the current landscape, strategic objectives, and success metrics. we sought to uncover Nikolaos Zaimis’ insights on the pivotal actions and implementations arising from this partnership, the benefits it promises for both parties, and the investors’ roles in realizing the strategy. Mr. Zaimis responded with intelligent and analytical perspectives, reflecting his extensive expertise in trade and investment. He detailed all the vital aspects investors and relevant stakeholders need to know. The interview unfolded as follows:
Could you provide an overview of your role as the Head of Trade Section at the EU Delegation to Egypt?
Nikolaos Zaimis: As the Head of the Trade Section at the EU Delegation to Egypt, my primary responsibility is to facilitate and promote trade relations between the European Union and Egypt. This involves addressing trade barriers, identifying potential areas for collaboration, and advocating for policies that support bilateral trade and investment.
Importance of Egypt to the EU:
Strategic Significance: Why is Egypt considered an important partner for the EU in terms of trade and investment?
Nikolaos Zaimis: Egypt holds significant importance for the EU as a strategic partner in trade and investment due to its large market size, strategic location, and historical ties. Its position at the crossroads of Africa, Asia, and Europe makes it an attractive destination for EU businesses seeking to expand their presence in the region.
Geopolitical Position: How does Egypt’s geographical location enhance its strategic importance to the EU?
Nikolaos Zaimis: Egypt’s geographical location enhances its strategic importance to the EU by serving as a gateway to markets in the Middle East and Africa. Its proximity to key trade routes and major shipping lanes positions it as a vital hub for regional trade and investment activities.
Economic Potential:
What economic potentials in Egypt make it a key market for the EU?
Nikolaos Zaimis: Egypt offers immense economic potential for the EU due to its large and growing consumer market, abundant natural resources, young labour force and diversified economy. Key sectors such as energy, agriculture, tourism, and manufacturing present lucrative opportunities for EU businesses to invest and contribute to Egypt’s economic development.
Importance of the EU to Egypt:
Economic Support: Why is the EU important to Egypt’s economic development and stability?
Nikolaos Zaimis: The EU plays a crucial role in supporting Egypt’s economic development and stability through various means, including financial assistance, technical expertise, and access to the EU 450 million people market through our Association Agreement. EU investments and trade partnerships contribute to job creation, know-how transfer, infrastructure development, and capacity building in Egypt.
Market Access: How does the EU help Egypt access larger markets and integrate into the global economy?
Nikolaos Zaimis: The EU provides Egypt access to its 450 million single market through the preferential trade part of the Association Agreement, which has eliminated tariffs and non-tariff barriers. This integration into one of the world’s largest economies enables Egyptian businesses to expand exports, raise standards, obtain better prices for their products and enhance their competitiveness.
The interview with Nikolaos Zaimis highlights the depth and breadth of the strategic partnership between the European Union and Egypt. The collaboration encompasses significant areas of mutual interest and benefit, positioning Egypt as a pivotal partner in the region while leveraging the EU’s support to bolster economic growth and stability. The forthcoming joint investment conference in Cairo on June 29-30, attended by high-level officials and major economic entities, aims to further solidify these ties and open new avenues for bilateral trade and investment.
