CAIRO – October 26, 2023: Trade volume between Egypt and Germany increased by 7 percent in 2022 reaching €5.5 billion compared to €5.1 billion in 2021, Egyptian Minister of Trade and Industry, Ahmed Samir stated during his meeting with his German counterpart.
The meeting came during Samir’s visit to Berlin, where they discussed ways to strengthen their economic ties and assessed the global economic situation.
Notably, Egyptian exports to Germany surpassed €1 billion in 2022, marking a significant milestone in the bilateral economic relations between the two countries.
Both Egypt and Germany are committed to boosting their trade volume and aim to double the figures achieved in 2022.
To encourage greater German investments in Egypt, the trade minister presented a list of 152 targeted investment projects prepared by the Ministry of Trade and Industry. Additionally, the state outlined the incentives it will offer to foreign companies, particularly those from Germany.
Recently in September, Minister of International Cooperation, Rania Al-Mashat, announced the signing of a debt swap agreement worth €54 million with Germany. This pact is specifically aimed at strengthening Egypt's energy sector within the framework of a program, demonstrating the nation's commitment to securing the necessary financial support for program implementation.
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