The recent economic summit held between Minister of Investment and Foreign Trade Hassan al-Khatib and German companies in North Rhine-Westphalia highlighted the prospects for economic cooperation between Egypt and Germany. The event provided an opportunity for both parties to discuss economic developments in Egypt as well as the financial, industrial and commercial policies adopted by the Egyptian state.
During the meeting, Minister al-Khatib stressed the importance of strengthening economic and commercial ties between Egypt and North Rhine-Westphalia, the most populous state in Germany. In the presence of 100 German companies interested in the Egyptian market, the Minister invited these companies to take advantage of the investment opportunities offered by Egypt.
Meanwhile, during his speech, the Egyptian Ambassador to Germany, Mohamed el Badry, praised the ambitious goals of both sides, stressing the importance of Minister al-Khatib’s visit to Düsseldorf, the capital of North Rhine-Westphalia, which gave new impetus to economic and investment relations with Germany.
The Head of the Egyptian Commercial Department, Yehia Al-Wathiq Billah, highlighted the investment opportunities available in Egypt for German companies, predicting an increase in the volume of trade between Egypt and Germany to 9 billion euros by the end of next year, compared to 7 billion currently, with a share of 3 billion for the state of North Rhine-Westphalia.
The Vice President of the Suez Canal Economic Zone, Mohamed Abdel Gawad, presented at the event all the investment opportunities and incentives offered by the SEZ to German investors, highlighting the successes of many investment projects in the zone.
During the summit, the German airline Eurowings announced the official launch of direct flights between Düsseldorf and Cairo, promising that this initiative will contribute to strengthening trade, investment and tourism relations between the two sides.
In conclusion, this economic summit provided an ideal platform to strengthen economic cooperation between Egypt and Germany, opening new prospects for mutually beneficial investment and collaboration.