CAIRO - 28 November 2024: Egypt's Minister of Investment and Foreign Trade, Hassan El Khatib, and Germany's Vice Chancellor and Minister of Economy and Climate Protection, Robert Habeck, met in Berlin this week to explore ways to further deepen the economic partnership between the two nations. The meeting highlighted a shared commitment to enhancing trade relations and fostering new avenues for collaboration, with both leaders emphasizing the importance of joint ventures and investments.
El Khatib showcased recent economic reforms implemented by the Egyptian government to improve the business environment. These reforms, which include streamlining investment procedures, providing new incentives, and removing bureaucratic barriers, have already begun to yield positive results in making Egypt a more attractive destination for foreign investment.
"We are determined to build an economy that encourages global investment," said El Khatib. "These reforms are transforming Egypt into a hub for international business and creating new opportunities for strategic partnerships."
Habeck praised these efforts, noting that Egypt’s ongoing reforms are a promising sign for international investors, particularly in sectors like infrastructure, renewable energy, and advanced technologies. He stressed that Germany is eager to strengthen its economic ties with Egypt, which has become an increasingly important player in the Middle East and North Africa region.
One of the key outcomes of the meeting was the announcement that the next Joint Economic Committee (JEC) meeting will take place in Cairo on February 18-19, 2025. This high-level event will bring together top German business leaders and Egyptian counterparts to discuss areas of mutual interest, with a focus on trade, investment, and the development of joint projects. Both sides expressed optimism that the committee’s work would lead to tangible advancements in economic cooperation.
El Khatib emphasized that Egypt is committed to providing a business-friendly environment for foreign investors, noting the country’s strategic location, skilled workforce, and competitive costs as key advantages. He also highlighted Egypt's access to international markets through various preferential trade agreements as an additional incentive for German companies to expand their operations in the country.
The meeting between El Khatib and Habeck underscores the growing interest of German businesses in Egypt. With its diverse economy and improving investment climate, Egypt is increasingly seen as a gateway to the broader African and Middle Eastern markets, and Germany views the country as an important partner for future growth and collaboration.
As both leaders outlined their vision for the future, they expressed confidence that this renewed partnership would lead to a robust and mutually beneficial economic relationship, opening up new opportunities for innovation, investment, and economic growth in both nations.
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