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Trade minister receives German ambassador in Cairo
3 November 2022  -  Organization :  -  Sector/Entity :  -  Category : Industry News

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The meeting has discussed enhancing industrial cooperation between both countries, mainly in automotives.

Cairo- Nov 3, 2022

Minister of Trade and Industry Ahmed Samir has met with Frank Hartmann, German ambassador in Cairo, to discuss enhancing cooperation and further deepening bilateral relations between the two countries, especially in the face of the current global economic crisis.

The meeting also reviewed German investments in the local market and the government efforts to support them. “Egypt is keen on benefiting from German advanced technologies to promote its industrial sector and boost mutual trade and investments,” Samir said.

The two sides also discussed the recent decision to form a supreme council for auto industry which aims to localize carmaking in the country. The minister, thus, invited German manufacturers to invest in the production of eco-friendly vehicles.

According to official figures, Egypt-Germany trade grew significantly to hit 5.1 billion in 2021. Germany ranks 9th among international investors in Egypt with $2.9 billion worth of investments in 1,382 projects operating in the fields of manufacturing, tourism, construction, agriculture, financing, communications and IT.

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