Egyptian Minister of Planning Rania Al-Mashat has met with the European Union’s Commissioner for Environment, Water Resilience, and competitive Circular Economy, Jessika Roswall, to discuss the implementation of the EU’s Carbon Border Adjustment Mechanism (CBAM).
The meeting, held during the Global Gateway Forum in Brussels, focused on the Egyptian government’s efforts to enhance the competitiveness of its exports, improve energy efficiency in the industrial sector, and advance the green transition in light of the new mechanism.
Al-Mashat affirmed the close cooperation with the European Union as a key development partner, with economic relations spanning decades. She explained that Egypt’s new national economic narrative, which targets a model focused on productive sectors, also includes policies to mitigate the impact of the CBAM on Egyptian exports.
The ministry is coordinating with various international institutions to provide technical support, grants, and concessional financing to reduce carbon emissions in industry and promote the green transition, she said.
Al-Mashat noted that through the Green Sustainable Industries (GSI) programme, development partners have provided €271m to reduce pollution in the industrial sector, encourage the use of renewable energy, and develop sustainable industrial practices.
She also reviewed the partnership with the European Bank for Reconstruction and Development’s (EBRD) Green Climate Fund (GCF) to leverage concessional financing and grants for the private sector, which she said enhances Egypt’s position as a strategic partner for the EU in green energy and supports competitiveness and exports.
The minister also outlined Egypt’s green transition efforts through the “NWFE” national platform for mobilising climate investments in the water, food, and energy sectors, which aims to accelerate the implementation of the National Climate Change Strategy 2050.
The meeting was attended by Ahmed Abou Zeid, Egypt’s ambassador to Belgium, Luxembourg, the European Union, and NATO.
