The meeting explored
preparations for the Sixth Round of the Egyptian-German Economic Committee, among
July 21, 2020
Minister of Trade and Industry Nevine Gamea has had a virtual
meeting with German Ambassador to Egypt Cyrill Nunn, where they discussed the
future of economic cooperation, German investments in Egypt and other issues of
The meeting also explored means of benefiting from German
expertise and high tech to develop the country’s industrial sector, important
driver of economy.
“There are ample investment opportunities for German business
circles in the industrial and services sectors,” Gamea said, stressing the government’s
keenness to streamline investment procedures and eliminate possible obstacles.
Moreover, the two sides reviewed preparations for the Sixth Round
of the Egyptian-German Economic Committee, which will discuss boosting mutual
cooperation at the government and private sector levels.
According to official data, Egypt-Germany trade hit $2.111
billion during the first half of the year; Egyptian exports to Germany amounting
to $290 million and imports $1.821 billion.
Egypt’s top exports to the EU country include: construction
materials, agriculture crops, ready-made garments, chemicals, fertilisers, and
food industries; while engineering, electronic and medical products are among its
main imports from Germany.