Egypt and Spain
Thursday، 16 November 2017 - 12:00 AM
Egypt announced its recognition of the government of General Franco on February 24th, 1939, after the United Nations lifted its recommendation to withdraw Ambassadors from there. The diplomatic relations between Egypt and Spain were resumed on July 15th, 1950. The Egyptian- Spanish relations became stronger after Juan Carlos de Borbon coming to the throne in 1975.
1- Economic field:
The Spanish economy has increasingly developed over the past years, so it is important for Egypt to attract the Spanish capital and investments to support the Egyptian economy. There are about 193 companies working in Egypt with an investment rate estimated at $947 million. Most of these investments are employed in Alexandria ,Damietta,Suez,Cairo and Giza.
2- Political Field:
The Egyptian-Spanish political relations are deep, intact and compatible especially with regard to strengthening coordination between the countries of the Southern and the North of the Mediterranean in the light of the challenges facing the Middle East and the Mediterranean region due to the existing crises in a number of countries in the region.