Joint protocol between Egypt and Germany

CAIRO – 4 February 2019: A joint protocol was signed between Egypt and Germany to deepen trade and economic relationships.

The protocol was signed by Egypt's Minister of Trade and Industry Amr Nassar and Germany's Federal Minister of Economic Affairs and Energy Peter Altmaier.

“The protocol aims to strengthen mutual trade and economic ties between the two countries through boosting economic cooperation and sustainable development and upgrading mutual work,” Nassar stated.

The protocol stipulates arranging fixed meetings between the German ambassador in Cairo and the Egyptian deputy minister of economy and industry to discuss ways to solve chronic problems, boost economic projects and investment, provide more job opportunities, achieve mutual development and find quick solutions for the German companies’ obstacles to facilitate their investment.

“Small and medium-sized projects are the base of both the Egyptian and German economies, where the two countries aim to establish more low-budget projects to encourage youth to start their own projects,” the Egyptian minister said.

Also, the protocol stated the significance of research and creativity in supporting prosperity of both countries within the framework of the program of Innovation and Creativity of Small and Medium-Sized Projects.

It is worth mentioning that the German government is keen on facilitating the participation of German companies in trade exhibitions in Egypt, being the leading country in Africa in the field.

Regarding the energy issue, the German minister assured that Egypt is a prominent partner to Germany in the region and that Egypt's production of natural gas is expected to increase in the coming period.

Egypt is working to renew the natural gas and liquefied natural gas infrastructure and Germany targets diverting its energy sources, which makes it a win-win situation to both countries.

Hence, mutual cooperation in the field of liquefied natural gas (LNG) in North Africa and Europe becomes a must; through establishing leading projects aim at improving efficiency of energy industry.

Holding mutual committee of renewable energy, energy efficiency and protecting government will enhance cooperation in energy field.

“Tourism is the ultimate way to achieve economic development, where Egypt is considered a tourist attraction to Germans; it also provides limitless job opportunities," the Egyptian minister said