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Vienna, 17.12.2018 Austria and Egypt sign Joint Declaration on Financial Corporation Agreement

Löger: "Egypt is a key partner at the interface between Europe and Africa" 

Vienna (OTS) - Within the framework of a visit to Austria, Egyptian President Abdel Fattah al-Sisi today met with both Austrian Federal Chancellor Sebastian Kurz and Austrian Finance Minister Hartwig Löger. A Financial Cooperation Agreement has existed between the two countries since 2007. On the periphery of the High-Level Forum Africa-Europe, Finance Minister Löger and President al-Sisi signed a Joint Declaration aimed at accelerating renewal of the Agreement.

Both countries expressed their satisfaction over the development of bilateral financial cooperation in recent years, and praised the significant achievements made as a result of the Financial Cooperation Agreement.

In this context, the Egyptian side stressed in particular the successful reform projects in the public sector, which have been possible thanks to loans within the framework of the Austrian soft loan programme.

Austrian Finance Minister Löger affirmed: "Egypt is a key partner at the interface between the European and African continents, and not least of vital significance as regards collective management of migration flows. We therefore attach great importance to extension of the Financial Corporation Agreement in order to enable our continued contribution to economic development and improvement in standards of living, as well as to creating opportunities at local level."

In conclusion, both sides expressed their intention to maintain intensive dialogue and interaction as well as regular bilateral meetings between representatives of the relevant ministries of both countries within the framework of their cooperation.