Egyptian-German trade exchange volume hits €4.4bn in first nine months of 2017

Minister of Industry and Trade Tarek Qabil said Egyptian-German relations have witnessed an unprecedented leap at the political and economic levels along with vital economic and trade cooperation between the two countries.

The minister’s remarks were made during a session of talks between Qabil on the fringe of their participation in the 11th ministerial conference of the World Trade Organisation (OIC), currently in session in Argentina.

Kabil said the volume of trade exchange reached €5.5 in 2016, while it registered €4.4 billlion during the first nine months of the current year, according to statement released on Wednesday by the Ministry of Trade and Industry.

The two ministers reviewed current talks at the OIC ministerial meeting and the hardships facing the organisers of the member-states especially as regards the agricultural and food safety issues.

Talks also covered means of making use of the German expertise in developing the small and medium-scale industries which are considered a priority for the Egyptian government.

Qabil also reviewed means of encouraging the German automobile companies to set up investments in the Egyptian market and benefit from the available investment privileges in Egypt.

He also underlined the importance of encouraging the German companies in the industrial sector to expand their presence in Egypt in scores of fields such as ready-to-wear-clothes, food industries, textiles as well as medical and house appliances. Source: Egypt today