Egypt-Germany economic relations strategic: minister

Egyptian-German economic relations are strategic and deeply-rooted, Egypt’s Industry Minister Amr Nassar said on Wednesday.

Economic relations between Egypt and Germany reached unprecedented levels thanks to the visits of President Abdel Fattah al-Sisi to Germany over the past period, he added.

Nassar made the remarks during an expanded meeting with head of Association of German Chambers of Commerce Eric Schweitzer with the participation of head of the Arab-German Chamber of Commerce and Industry Jan Noether.

Germany is Egypt’s most important trade partner and the ministry seeks to benefit from the German expertise in developing the national industry, he said.

He underlined the importance of boosting cooperation as regards holding trade exhibitions in Cairo, citing Cairo’s hosting of Pacprocess exhibition for Africa and the Middle East.

Pacprocess is a comprehensive and highly-targeted exhibition that addresses the requirements of the food, beverage, confectionery, bakery, pharmaceutical, cosmetics, non-food, and industrial goods sectors in the Middle East and Africa region.

Held for the first time in Egypt, from December 9 to 11 at the Cairo International Convention and Exhibition Center, the event capitalizes on mega opportunities in one of the major economic hubs in North Africa, which also serves as the gateway to regional markets.

The head of the German Association of Chambers of Commerce said the current stage witnesses unprecedented cooperation between Egyptian and German businessmen.

Efforts are now focused on luring more German investments to the Egyptian market, especially in the field of auto manufacturing and renewable energy projects.

He said the federation groups 79 chambers and has 140 branches in 92 countries worldwide.

Source: MENA