CAIRO: Egypt and Germany signed two cooperation protocols Monday worth a total of $235 million, Trade and Industry Minister Tarek Qabil was quoted by the state news agency MENA.
The protocols were signed during the 3rd Session of the Egyptian-German Joint Economic Committee held Monday. 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.
The first protocol, worth $150 million dollars, involves training programs for 250 Egyptian engineers and technicians in Germany over the course of 10 years, Qabil said.
The second protocol, worth $85 million, is to establish a solar park in Upper Egypt’s governorate of Aswan.
On Sunday, Gabriel met with President Abdel Fatah al Sisi and Foreign Minister Sameh Shoukry and discussed ways to enhance bilateral cooperation between the two countries.
Egyptian exports to Germany recorded $1.95 billion 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.