The volume of trade exchange between Egypt and Germany increased by 7% in 2022, to record €5.5 billion compared to €5.1 billion in 2021
The volume of trade exchange between Egypt and Germany increased by 7% in 2022, to record €5.5 billion compared to €5.1 billion in 2021, Minister of Trade and Industry, Ahmed Samir, stated during his meeting with his German counterpart.
During the meeting, discussions took place about exploring ways to enhance joint economic relations and developments in regards to the global economic situation.
Egypt and Germany are keen to increase their volume of trade exchange between and double the numbers achieved in 2022. Egyptian merchandise exports to Germany have exceeded €1 billion in 2022 for the first time in the history of bilateral economic relations between the two countries.
Within the framework of boosting German investments in Egypt, trade minister presented a list of targeted investment projects prepared by the Ministry of Trade and Industry, numbering 152 projects, as well as the incentives that the state will provide to foreign companies, especially German ones.
Earlier in September, Minister of International Cooperation, Rania Al-Mashat, has announced the inking of a debt swap pact with Germany worth €54 million. This agreement is geared towards fortifying Egypt's energy sector within the program framework, underscoring the nation's commitment to garner the necessary financial backing for program execution.
