Egypt, Germany sign document on promoting economic partnership

CAIRO - 4 February 2019: Egypt and Germany have signed a document to enhance economic partnership between them in the fields of industry, trade policies, investment, energy, environment, transportation, infrastructure and tourism.

The document was signed by Minister of Trade and Industry Amr Nassar and German Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy Thomas Bareiß here on Monday during the 5th meeting of the joint economic committee.

The document states promoting cooperation between the two nations in the fields of industry, trade policies and investment through exchanging information pertaining to investment with the aim of increasing German investments in Egypt and making use of Germany's expertise, Nassar said.

Under the document, the two sides will also upgrade investments at the Suez Canal Corridor and in vocational training and technical education, improving the atmosphere of investment, logistics, establishing harbors and running industrial zones, Nassar added.

They also agreed on the need to develop cooperation on customs, training, rules of origin, information technology, market control mechanisms, foodstuffs and agriculture, he added.

The two sides will also promote cooperation in botanical crops research, animal production, protection of plants and research related to agricultural engineering, food technology, veterinary health, soil, water and the environment, he said.

The document included cooperation in energy and low carbon emissions through collaboration in renewable energy fields, environment protection, climate change and energy-related infrastructure, as well as oil and gas exploration, petroleum refining, petrochemicals and mineral resources, he said.

Cooperation also covers the environment particularly environment and climate policies and bio-diversity as well as transportation and its infrastructure, railway engineering, logistics centers and technical training on maintenance of railways and other means of transportation, he said.

Developing tourism is also included in the document through urging travel agencies in both countries to boost cooperation in this fields, he added.

The minister asserted the importance of enhancing joint action between Egypt and Germany at the economic, trade and investment levels not only at the bilateral level but also in third markets especially the African one, he said.

The joint committee meeting covered the fields of industry, trade policies, investment, energy, transportation, infrastructure and tourism, he pointed out.