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Trade Minister meets German counterpart, on sidelines of WTO MC11
13 December 2017  -  Organization :  -  Sector/Entity :  -  Category : General

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The meeting discussed cooperation in automotives, SMEs and other fields.

Minister of Trade and Industry Tarek Kabil held talks with Matthias Machnig, German state secretary at the Federal Ministry for Economic Affairs and Energy, on the sidelines of the WTO 11th Ministerial Conference, currently in session in Argentina's Buenos Aires.

The two ministers explored their countries' stances on the current talks at the WTO ministerial meetings and the hardships facing the negotiators to reach a consensus among member states on some key issues like agriculture and food safety. 

The meeting also focused on means of benefiting from German expertise in developing small and medium-sized enterprises, a priority for the Egyptian government. 

"German automotive companies are encouraged to invest in the Egyptian market and benefit from the various investment incentives offerd by the government," Kabil said during the meeting.

He added that there are ample opportunity for cooperation between the two countries in the industrial sector; mainly in ready-made clothes, food industries, textiles, medical supplies, house appliances, auto parts and others.

Witnessing an unprecedented leap in recent years, Egypt-Germany trade exceeded €5.5bln in 2016, and hit around €4.4 billlion during the first nine months of this year, according to official figures. 

German investments in Egypt are worth $629mln in 1048 projects, operating in: manufacturing, tourism, services, agriculture, communication and IT.
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