Sisi meets German economic minister, eyes more cooperation

CAIRO – 10 October 2017: President Abdel Fatah al-Sisi met Germany’s Minister for Economic Cooperation and Development Gerd Müller Tuesday, as part of his visit to Egypt, spokesperson of the presidency Alaa Youssef said.

Sisi stressed on the significance of enhancing the economic relationship between Egypt and Germany, especially on the economic and development fronts, Youssef noted in a statement.

While discussing cooperation in education, technical training and vocational education areas; Müller said Egypt can benefit from the various economic programs offered by Germany and the European Union (EU).

On Tuesday, Minister of Investment and International Cooperation Sahar Nasr signed three cooperation agreements with Müller and the German Bank for Reconstruction, with the value of €320 million ($377 million).

The agreements included one on supporting the Egyptian economic reform program with the value of €225 million, and another one for financing projects with the value of €45 million.


A third agreement with the Bank was signed for supporting small scale projects with the value of €50 million.

Funded by the Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ), the minister also laid the foundation stone of Siemens’ professional training center in Ain Sokhna, which targets training more than 5,500 Egyptians over the next four years in the fields of industrial mechanics, electronics, control and automation.