17-05-2024 06:02 AM Jerusalem Timing

EU Offers Mursi 1.0 bln Euros Aid and Better Trade

EU Offers Mursi 1.0 bln Euros Aid and Better Trade

EU leaders offered Egypt more than a billion euros in aid and better trade terms as President Mohamed Mursi flew in for his first visit to Europe pledging to support democratic values and freedoms

EU leaders offered Egypt more than a billion euros in aid and better trade terms as President Mohamed Mursi flew in for his first visit to Europe pledging to support democratic values and freedoms.
   Mursi
The trip, followed by a visit to Rome, came amid anti-US protests over a film insulting to Islam that led to the killing of four US officials in the Libyan city of Benghazi, among them was the US envoy.
  
"Attacks such as these cannot be justified, regardless of their motivation," said European Union president Herman Van Rompuy. "All leaders have to assume their responsibilities in building security and tolerance," he added with Mursi at his side following a furious anti-US protest at Washington's embassy in Cairo.
 
 Welcoming the first ever visit by an Egyptian leader to Brussels, and Mursi's first foray into Europe, Van Rompuy pledged the EU would stand by Egypt's "side as a friend, a neighbor, a partner."
  
Earlier, praising Mursi for his "unwavering commitment" to democratic values and fundamental freedoms, European Commission Jose Manuel Barroso vowed "to work with Egypt's democratically elected authorities to build a democratic, free, open, prosperous Egypt."
  
The EU was making available 449 million euros to Egypt for 2011-2013 but was "willing to do much more," Barroso said. He offered 500 million euros (640 million) extra in macro financial assistance -- on condition Egypt clinches a $4.8 billion IMF loan -- and budget support of 150-200 million euros for the country's economic recovery.
  
The head of the EU executive also said the world's largest trading bloc, with its half a billion people, was ready to start negotiations with Cairo on a "deep" free trade deal. More details on economic cooperation between Egypt and the EU will be worked out in November by a joint "task force".