German Bundestag - CC via pixabay/mat_hias
CAIRO – 8 February 2019: A delegation of Egyptian lawmakers met with Vice-President of the German Bundestag Hans-Peter Friedrich on Friday in Berlin, discussing the bilateral cooperation and the economic situation in Egypt.
The Egyptian delegation’s visit comes four days after a meeting between Egyptian President Abdel Fatah al-Sisi and German Federal Minister for Economic Affairs and Energy Peter Altmaier, German ambassador in Cairo Julius Loew on February 4, 2019.
The meeting was attended by Minister of Investment and International Cooperation Sahar Nasr, Minister of Finance Mohamed Mait and Minister of Economy and Trade Amr Nassar; in addition to representatives of the largest German companies and a number of German parliamentarians.
The meeting tackled the positive developments in the Egyptian energy Sector.
The fifth session of the Joint Economic Committee was held on February 4 2019 as it represents an important platform for cooperation in all fields between the two countries including industry, Trade, Investment, Energy, Transportation, Infrastructure, Tourism and Higher education.
"The president warmly welcomed the German delegation and expressed his aspiration for much more investments in all fields," Bassam Radi, the presidency spokesman said.
"The Egyptians' will is the main guarantee to sustain investment amid lots of privileges such as stability, developed infrastructure and work force. Thus, we yearn to attract much more of the German investments to Egypt," Sisi stated.
On the other hand, the German minister conveyed German Chancellor Angela Merkel's greeting to Sisi, reflecting her appreciation for the unique relations with Egypt and the recent progress achieved in all fields.
"Egypt is the third biggest partner to Germany in the Middle East; besides its distinguished regional position that contribute to developing and stabilizing the Arab region," Altiamer said.
“Stability is the main key to achieve a developed economy, where only the will of masses has the decisive role in providing the needed stability for progress," Radi said.
Sisi assured that the current economic reform program focuses on providing sufficient resources and supplies for developing healthcare and education organizations to upgrade services offered to the Egyptian citizens, putting into consideration the social differences between classes.
The Egyptian president also referred that the government appreciates the huge role the private sector plays to develop the economy. Hence, a number of laws are set to put an end for all obstacles the private sector faces.
Such laws will provide a suitable atmosphere for competitive and attractive projects, set a comprehensible investing plan for all economic sectors and unifying efforts combating corruption and terrorism.
Moreover, Sisi shed light on the large investing projects established by the government to increase the growth rate, offer more job opportunities and attract more foreign investments to Egypt.
“Egypt is keen to meet all the aspirations of its citizens. Therefore, we accomplished a lot of achievements such as developing the Suez Canal Axis and establishing a number of new cities including the New Administrative Capital,” Sisi stated.
“Egypt welcomes Mercedes-Benz Manufacturing Company; reflecting our deep seeking to eliminate all struggles and obstacles that might face foreign investors in Egypt” al-Sisi reported.
"The overall economic reforms and huge developmental projects reflect positively on the overall economy; where rate of surplus massively increased, the Egyptian products and manufactures regain its ability to compete and the rate of deficiency of the public budgeting decreased to a crawl." al-Sisi's explained.
Rate of overall national growth reached 5.3% in the year of 2017/2018 and hit 5.5% at the second half of the fiscal year 2018-2019 to be the highest rate of growth since 2009.
"The meeting witnessed an open discussion with the Egyptian President and the German delegation where a set of huge German projects chairmen expressed their appreciation of Egypt massive progress. Assuring the expansion of cooperation frame to include a set of fields such as profession training, technical training, Petrochemicals, iron steel," the Egyptian ambassador elaborated.
"Germany is tied to develop its partnership with Egypt; where at February 4, I will participate with 10 of the German universities chairmen to put the first step for the new German university in Egypt that will be located at the New Administrative Capital." Altmaier said.
"Germany has a great role in the Egyptian social and economic development being a peerless partner. The Egyptian President al –Sisi does his best to accomplish the Egyptians' aspiration, the long-aimed stability on concrete bases and development." Radi said.