Trade volume between Egypt, German amounts to $4.4B: Minister
Mounir Fakhry Abdel Nour - YOUM7 (Archive)

CAIRO: Trade volume between Cairo and Berlin is estimated at 4 billion Euros ($4.4 billion) annually, making the European country one of Egypt’s most important trade partners, Minister of Trade Mounir Fakhry Abdel Nour said in a Monday statement.

German investments in several fields in the Egyptian market are valued at 603 million Euros, said Abdel Nour, stressing on the importance of promoting such investments to reflect the tight bilateral relations and the strong German economy as well.

President Abdel Fatah al-Sisi flied to Berlin Tuesday in a two-day visit to meet with German Chancellor Angela Merkel, and his German counterpart Joachim Gauck in Bellevue Palace to deepen bilateral relations, presidential spokesperson Alaa Youssef said in a Monday statement.

Sisi is expected to witness the signing of many Memoranda of Understanding (MoUs) during his visit, with a focus on energy project with the aim of solving Egypt’s worst energy shortfall in decades.

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