Egypt led serious steps towards economic reform: Berger

CAIRO – 22 December 2018: Germany’s Federal Ministry for Economic Affairs and Energy affirmed Saturday that relations between Egypt and Germany are “very good,” commending Egypt for managing to overcome its financial crisis.

Director-General for Economic Affairs and Sustainable Development at the ministry, Miguel Berger, said that the incumbent government managed to stabilize the state’s economy.

Berger further pointed out in press remarks that the Egyptian government has also managed to achieve major steps in the economic field, as well as leveling up the country’s status in a way that fits international standards.

“The Suez Canal Development Project is deemed a very feasible step for Egypt’s economy, which has a wide-ranged horizon, not to mention that we discussed a set of aspects regarding the industrial zone at the Suez Canal axis and how Egypt can reach sustainable development to achieve the maximum benefit.

“Clearly, Egypt achieved serious progress; it formed a Parliament and passed a new investment law, all in favor of the Egyptian-German economic relations,” Berger added in press remarks.

Berger also added that Egypt managed to make a leap in the electricity and power fields with the assistance of Siemens, pointing out that such steps boost the “successful” economic partnership between the two countries.

“We are very happy that Egypt heavily invested in the renewable energy field, and it is possible that the size of this cooperation might increase between the two countries in the future,” he added.

“When we go back 20 or 30 years, we would find Egypt leading the list of Germany’s economic partners in the Middle East and the Arab region, now it deputes the 3^rd place after Saudi Arabia and the United Arab Emirates.

“In my point of view, a great country such as Egypt has skillful manpower and good minds that increases its promising chances to claim leadership.”