In this regard, the Action Plan between Egypt and the EU within the European Neighbourhood Policy sets ambitious objectives based on joint ownership, common interests, reciprocal commitments, differentiation, shared values and implementation of national plans and reform programmes, politically, economically, socially and institutionally. Egypt and the EU agree, through the current Action Plan, to enter into intensified political, security, economic, trade, investment, scientific, technological and cultural relations, and shared responsibility in establishing an area of peace and stability including the prevention and settlement of conflicts in the region and to reinvigorate regional and sub-regional cooperation. The level of ambition of the EU-Egypt relationship, leading to continuing trade liberalisation including in agriculture and services, a stake in the EU’s internal market, increased financial support and enhanced political cooperation, will depend on the degree of commitment to common values as well as the implementation of jointly agreed priorities to mutual benefits. The pace of progress of the relationship will acknowledge fully the efforts and concrete achievements in meeting those commitments. Recognising Egypt’s efforts and reform priorities to further develop and modernise all sectors of the Egyptian society and economy based on the respect of her identity, specificities and national priorities, the Action Plan aims to support such efforts and priorities as reflected in the National Development Plan 2002-2007, President Mubarak’s Electoral Platform for 2005 and the Government’s statement to the parliament in January 2006. These include national priorities aiming to: improve quality of life and standard of living; increase employment opportunities and reduce unemployment; reduce poverty and expand the coverage of social security; eradicate illiteracy and develop education and higher education; consolidate the role of institutions, promote the protection of human rights and fundamental freedoms; continue maintaining and ensuring judiciary independence; expand the participation in political life; enhance human resources and institutional capacity building; increase rates of economic growth and investments; increase female participation in development; achieve a significant expansion in the production and exports capacities; improve industrial potentials; promote innovation, scientific research and technological development and preserve the environment. This Action Plan is a first step in a process covering a timeframe of three to five years. Its implementation will help fulfil the provisions and aims of the Association Agreement (AA) and will encourage and support Egypt’s national development, modernisation and reform objectives. It will furthermore help to devise and implement policies and measures to promote economic growth, employment and social cohesion, to reduce poverty and protect the environment, thereby contributing to the long term objective of sustainable development. Implementation of the Action Plan will also help, where appropriate, further integration into European Union economic, social and technological structures and significantly increase the possibility to advance the approximation of Egyptian legislation, norms and standards to those of the European Union in appropriate areas, thereby enhancing prospects for trade, investment and growth. The Action Plan will take into account the balance between the acceleration necessary for dynamic implementation and modernisation of the Egyptian economy and the imperatives of a sustainable socioeconomic development. Egypt’s unique geographical position and its historical and strategic relations with the Arab and African countries, and its key role for peace and stability in the Middle East, as well as the EU’s increasing role on the global arena and its enhanced contribution to peace, security and economic development in the Mediterranean and the Middle East, enable Egypt and EU, through this Action Plan to further develop their cooperation on regional and international issues, particularly referring to the Middle East Peace Process, disarmament and arms control, non-proliferation of weapons of mass destruction and their delivery systems in the Middle East and elsewhere, and the fight against terrorism, to enhance and to promote dialogue between cultures and civilisations and to promote South-South trade and cooperation. In order to contribute to the accomplishment of the ambitious objectives of this Action Plan, the EU will provide appropriate financial support through the different available financial instruments. The AA is the legal framework governing the bilateral relations between Egypt and the EU. New Partnership Perspectives The European Neighbourhood Policy and Egypt’s policy to deepen its relationship with the EU open New Partnership Perspectives: —