Egyptian delegation visits Germany for automotive sector

CAIRO – 13 November 2017: The Engineering Export Council of Egypt is visiting Germany for four days, in coordination with the German-Arab Chamber of Industry and Commerce (GACIC), to meet automotive industry companies.

The delegation targets meeting a number of players in the car assembling industry, in addition to market players such as Volkswagen, BMW, Siemens and MAN, "with the aim of increasing their supplies to Egypt and transferring their latest technologies;" the council said in a Monday statement.

A number of 10 companies are taking part in the mission, putting certain topics on their agenda such as manufacturing car components in Egypt, the New Investment Law, the competitive advantage of the country's industrial sector and export opportunities to countries that Egypt signed free trade agreements with.

In an interview with Business Today Magazine this month, CEO of GACIC Andreas Hergenroether said the delegation will discuss feeding industries of the automotive and railway sectors.

Germany is a key economic partner to Egypt as over 1,000 German companies are operating in Egypt and the trade exchange volume between the two countries reached €5.56 billion ($6.4 billion) in 2016, while German investments in Egypt recorded €619 million in the same year.