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.