ICEC

German economic delegation visiting Egypt this April

A German delegation consisting of Minister for Economic Affairs and Energy Sigmar Gabriel and representatives of 100 German companies and financial institutions will visit Egypt next month.

The delegation will meet President Abdel Fattah al-Sisi and the ministers of industry, finance, foreign affairs and investments.

The two-day visit, which will commence on 17 April, is being coordinated by the Egyptian commercial attaché and Germany’s Federal Ministry of Economic Affairs.

Bilateral trade between Cairo and Berlin was recorded at €5 billion in 2015, a record high. Bilateral trade between both countries amounted to €4.4 billion in 2014.

Egyptian exports to Germany recorded €1.73 billion in 2015, up from €1.53 billion in 2014, according to the commercial attaché in Germany,

Imports from Germany were recorded at €3.35 billion in 2015 compared to €2.86 billion in 2014.

On Monday, the head of the commercial attaché, Ali El-Leithy, attributed the augmentation in the value of trade to an increase in the number of exhibitions in which Germany and Egypt mutually participated.

The mutual exhibitions Germany and Egypt have been party to include those focused on textiles – carpets and furniture covers – handmade industries, medical appliances, and fruits, according to El-Leithy.

“Trade commissions between both countries increased in 2015 due to coordination between the commercial attaché, export councils, chambers of commerce and the German-Arab Chamber of Industry and Commerce,” El-Leithy said.

In 2015, German Ambassador in Cairo Hansjörg Haber pointed out that Germany agreed to allocate a development cooperation package of Є100m to Egypt to implement projects in renewable energy, water and irrigation, in addition to the rehabilitation of a number of power plants in the Aswan High Dam area.

Source: The Daily News Egypt

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