Egypt-EU partnership agreement to be endorsed

Egypt's ambassador in Brussels who doubles as Egypt's permanent delegate to the European Union (EU), Soleiman Awwad said Egypt has a grace period between 8-12 years to adapt its markets to receive European products.

The EU has devided to have Egypt host a branch of the European Investment bank, as a center for investment in the region.

On the Egypt-EU partnership agreement, Soleiman said it is the best form of cooperation between the EU and countries outside it.

The agreement avails the set up of free-trade area, technical aid, and economic cooperation.

"Egypt was not the first country to sign that agreement. Morocco, Tunisia and Jordan preceded us, and we were followed by others, such as Algeria and Lebanon," he added.

The partnership agreement was signed in June 2001, said Soleiman to be put into effect, it has to be endorsed by parliaments of the EU member states.

So far, the European parliament and four EU member state parliaments have endorsed it. Yet, other countries, such as Belgium will take around two years to endorse, due to its confederal systems, he highlighted.

It's encouraging that the People's Assembly has placed the partnership agreement on its agenda for this session, he concluded.