Egyptian-German trade exchange totaled €5.1 billion in 2021, Min. tells 25th Arab-German Business Forum

The volume of trade exchange between Egypt and Germany totaled 5.1 billion euros in 2021, Egyptian Minister of Trade and Industry Nevin Gamea said during the 25th Arab German Business Forum on Wednesday.

In a speech during the forum, Gamea called for boosting trade exchange between the two countries in a way that reflects their special relations, a statement by the ministry read.

The Berlin forum, organized by the German-Arab Chamber of Industry and Commerce (GACIC), has been attended by around 600 Arab and German businessmen.
Gamea said Egypt attaches great importance to attracting further German investments in Egypt in the sectors of car manufacturing, energy, waste recycling and management, and digital transformation.

She noted that the German investments in Egypt currently totals $2.9 billion.

The minister highlighted the importance of encouraging joint Egyptian-German investments in light of the multiple investment opportunities in the two countries to develop their cooperation in this regard.

She noted that investments in the Egyptian market also allow access to Arab countries, which are among the most important commercial partners to Egypt.

Gamea hailed the Egyptian-German relations as firm and strategic, saying they are based on successful partnerships between the two countries in various fields and at all levels.

Egypt and Germany celebrate 70 years of diplomatic relations, Gamea said, noting that many visits and joint events will be held between the two countries at all levels in the coming period.

During her Berlin visit, Gamea held talks with Robert Habeck, Vice Chancellor of Germany and Federal Minister for Economic Affairs and Climate Action, where they discussed boosting economic cooperation in trade, industry, and investments.

The meeting also exchanged visions on various regional and international economic issues and a number of files of mutual concern.

The minister said that the meeting addressed preparations for holding the sixth session of the joint economic committee scheduled for next September and discussed the possibility of organizing an Egyptian-German business forum on the sidelines of the session.

Gamea highlighted the importance of the committee in supporting the dialogue between the Egyptian and German sides in various economic fields in a way that contributes to supporting their cooperation in the fields of trade, investment, transport, electricity, customs, energy and technical cooperation.

The minister underscored the need for activating the Egyptian-German Joint Business Council in a way that contributes to boosting trade exchange and joint investments between the two countries, and benefiting from the great economic potentials in Egypt and Germany.

She also reviewed the ongoing Egyptian preparations to host the 27th session of UN Climate Change Conference in 2022 during the period from 7-18 November in Sharm El-Sheikh city.