Egypt’s PM Madbouly, Germany’s Siemens in talks over boosting cooperation

Egyptian Prime Minister Moustafa Madbouly met on Tuesday with officials German company Siemens on boosting cooperation and the company’s planned investments in Egypt.

The PM and his accompanying ministerial delegation are scheduled to meet a number of German businessmen and review the future of Egyptian-German relations, in addition to investment opportunities in the two countries.

Madbouly arrived in Berlin on Monday to participate in the Arab-German Business Forum.

Being the current edition’s guest of honour, Egypt has a special opportunity to promote investment opportunities in the country.

The forum is attended by up to 600 Arab and German businessmen.

Meanwhile, a statement by the Ghorfa Arab-German Chamber of Commerce and Industry said that the 22nd Arab-German Business Forum will provide a platform for discussion, dialogue, networking, doing business, creating partnerships and providing innovative solutions with the view to strengthening economic cooperation between Germany and Arab countries.

The Arab world and Germany traditionally share close and diverse business ties, statement read.

German companies offer a huge variety of opportunities for cooperation and are not only able to provide high-quality goods, but also state of the art know-how, it said. The World Economic Forum recently ranked Germany as the most innovative country in the world, the statement said.

The latest studies expect positive growth rates of 2 to 4 percent in most Arab countries, the statement pointed out.

In Egypt and Iraq, the growth rate could even reach 5 to 6 percent, it said. Overall, this is expected to offer both German and Arab company’s ideal opportunities for sustainable business and cooperation, it added.

Source: MENA