Egypt Minister of Trade and Industry Discusses Cooperation with German AmbassadorSource: www.export-egypt.com 6/21/2018, Location: Africa |
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Minister of Trade and Industry Amr Nassar met with Julius Georg Luy, the German ambassador in Egypt, to discuss the future of economic cooperation between Egypt and Germany in the trade and industrial sectors.
“The ministry seeks during the coming period to open up to more foreign investments, particularly from the EU, Egypt’s top trade partner,” Nassar said. He also stressed the importance of fostering cooperation between countries across the Mediterranean Sea. Georg, for his part, pointed to possible cooperation between Egypt and Germany mainly in technical and vocational training, given the latter’s vast expertise in this area. According to official data, trade between the two countries hit €5.814 billion in 2016, up 5% from €5.568 billion a year earlier. German investments in Egypt amount to $641 million in 1,080 projects in the fields of manufacturing, services, agriculture, construction, communications, IT and financing; whereas Egyptian investments in the EU country are worth $35.5 million in different areas. |
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