CAIRO: A German business delegation, headed by Vice-Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel arrived in Cairo Saturday for talks with Egyptian officials on ways to boost bilateral trade between Cairo and Berlin, Youm7 reported.
The delegation comprised of representatives of over 100 German firms and financial institutions.
Gabriel is scheduled to meet with Egypt’s Foreign Minister Sameh Shoukry and a number of Egyptian officials and businessmen to discuss ways to intensify mutual investments, joint venture in the sector of technical vocational training, as well as enhanced technology transfer.
The German delegation will attend the 3rd Session of the Egyptian-German Joint Economic Committee, which meets in turn in Berlin and in Cairo.
“The event has emerged as an essentially important instrument for the fostering of bilateral economic relations between both countries. At present about 70 German companies have established factories in Egypt, employing 23.000 workers,” according to the commercial attaché in Germany.
The three-day visit is coordinated by the Egyptian embassy in Berlin, the Egyptian commercial attaché and Germany’s Federal Ministry of Economic Affairs.
Egyptian exports to Germany recorded $1.95billionn in 2015, up from $1.73 billion in 2014, while Imports from Germany were recorded at $3.78 billion in 2015 down from $3.23 billion in 2014, according to the commercial attaché in Germany.