Al-Mashat Discusses with the European Commissioner for Environment, Water, and Circular Economy the Efforts to Implement the Carbon Border Adjustment Mechanism (CBAM) and the developments of the Nexus of Water, Food and Energy (“NWFE”) program

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Ms. Jessika Roswall, European Union Commissioner for Environment, Water Resilience, and Competitive Circular Economy. The meeting was attended by Ambassador Ahmed Abu Zeid, Egypt’s Ambassador to Belgium, Luxembourg, the European Union, and NATO. The meeting took place on the sidelines of the second edition of the “Global Gateway” Forum in the Belgian capital, Brussels.

The meeting included an in-depth discussion on the European Carbon Border Adjustment Mechanism (CBAM), the efforts of the Egyptian government to foster the competitiveness of Egyptian exports in alignment with this mechanism, improve energy efficiency in the industrial sector, and advance the green transition.

During the meeting, Dr. Rania Al-Mashat emphasized the close cooperation with the European Union as one of Egypt’s key development partners, highlighting the long-standing economic relations between Egypt and the EU that span decades.

Dr. Al-Mashat pointed out that “Egypt’s Narrative for Economic Development” aims to implement an economic model focused on productive sectors. At the same time, it includes policies the state is implementing to reduce the impact of the CBAM on Egyptian exports.

Dr. Al-Mashat added that, in light of the state’s commitment to advancing the manufacturing sector and enabling private sector investment in industry to boost exports and shift toward tradable sectors, the Ministry of Planning, Economic Development, and International Cooperation is coordinating with various international institutions to provide technical support, grants, and concessional financing. These efforts aim to reduce carbon emissions in industry and promote the green transition.

Dr. Al-Mashat mentioned that through the Sustainable Green Industry (GSI) Program, development partners are providing €271 million to reduce pollution in the industrial sector, encourage the use of renewable energy, and develop sustainable industrial practices. She also presented the status of Egypt’s partnership with the Green Climate Fund (GCF), affiliated with the European Bank for Reconstruction and Development (EBRD), to benefit from the concessional finance and grants the fund offers to the private sector. This supports Egypt’s position as a strategic partner to the European Union in green energy, enhances competitiveness, and increases exports in line with national priorities.

Dr. Al-Mashat also reviewed Egypt’s green transition efforts through the country platform for the “NWFE” program, which mobilizes climate investments in the water, food, and energy sectors. The program aims to accelerate the implementation of Egypt’s National Climate Strategy 2050 and its Nationally Determined Contributions (NDCs).

Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.