The government is keen on luring more German investments into the Egyptian market, particularly in the automotive industry, energy sector, waste management and recycling sectors, in addition to digital transformation, affirmed Trade and Industry Minister Ahmed Samir.
The minister’s remarks came during his meeting with German Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Stefan Wenzel.
During the meeting, the two sides discussed the current and future cooperation projects between the two countries in the spheres of trade, industry, and investment. They also discussed a host of issues of mutual interest.
The meeting took up the measures taken by the Egyptian government to confront the lingering impact of the Covid-19 pandemic, as well as the Russian-Ukrainian crisis, added the minister.
The meeting also tackled Egypt’s plan to deal with the current economic crisis, which includes promoting the role of the private sector in the economic activity, and supporting the localization of national industry, said the minister.
The minister further said that the volume of trade exchange between the two countries reached about 5.1 billion euros.
The volume of German investments in Egypt reached about dlrs 2.9 billion until the end of April, he noted.
For his part, the German minister affirmed that his ministry is keen on promoting economic ties with Egypt, especially in light of the distinguished ties binding the two countries.
The German companies attach special importance to the Egyptian market, considering it one of the most important markets in the Middle East and Africa, he added.
He further hailed the efforts exerted by the Egyptian government to find solutions to the challenges besetting the companies investing in the Egyptian market.
Source: State Information Service Egypt