Sisi: Egypt keen to continue developing economic relations with German business community



Tue, 19 Jul 2022 - 08:16 GMT


Tue, 19 Jul 2022 - 08:16 GMT

CAIRO – 19 July 2022: President Abdel Fattah El-Sisi affirmed on Monday Egypt’s keenness during the coming period to continue developing economic and commercial relations with the German companies and business community.

Sisi’s statements came as he participated in a roundtable meeting with representatives of the German business community and heads of giant German industrial companies.

The meeting was attended by a number of German officials and the Egyptian ministers of foreign affairs, electricity and renewable energy, planning and economic development, petroleum and mineral resources, transportation, and trade and industry.

During the meeting, Sisi expressed Egypt’s hope for the development of the joint investments to contribute to supporting the economic development track in Egypt in a way that emulates the successful models of cooperation between Egypt and many giant German companies.

The president praised the positive developments witnessed by the economic and commercial relations between Egypt and German over the past few years, highlighting the diverse investment opportunities provided by the mega projects being implemented in Egypt.


For their part, heads and representatives of the German companies welcomed intensifying cooperation with Egypt to achieve joint interests between the two sides.

They also reviewed their plans of investment in Egypt and expansion in their ongoing projects in the country in various fields.

Sisi stressed Egypt's appreciation of the special strategic relationship with Germany and welcomed in this regard the increased activity of German companies operating in Egypt.

Sisi has embarked on an official visit to the German capital, Berlin, to attend the Petersburg Climate Dialogue to coordinate positions on the UN Climate Change Conference (COP27), which Egypt will host next November.

The president also met on Monday with his German counterpart, Frank-Walter Steinmeier, German Chancellor Olaf Scholz, and German Minister of Defense Christine Lambrecht.

In his meeting with Scholz, Sisi stressed Egypt’s keenness for further German involvement, through the mechanisms of its various developmental institutions, in the priorities of Egypt’s development plans in various fields.

He also expressed keenness for doubling German investments in Egypt, given the promising opportunities available in mega national projects.

Scholz, for his part, affirmed Germany’s keenness to support Egypt’s ambitious measures in pursuit of comprehensive development, particularly through increased investments, the transfer of expertise and technology, and the localization of the German industry.

The two sides agreed on the importance of working to replicate the successful model of partnership between Egypt and major German companies, such as Siemens, which has proven huge success in recent years.



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