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Egypt, Germany sign four agreements to increase economic cooperation between the 2 countries - Daily News Egypt

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Egypt, Germany sign four agreements to increase economic cooperation between the 2 countries

CAIRO: The Egyptian-German Business Forum concluded its meetings Sunday with the signing of four agreements aimed at modernizing Egyptian industries and increasing bilateral trade. On the industrial front, Siemens Egypt Automation and Drives signed three agreements with the Industrial Modernization Center (IMC) and the Industrial Training Center (ITC) to develop the production capabilities of select …


CAIRO: The Egyptian-German Business Forum concluded its meetings Sunday with the signing of four agreements aimed at modernizing Egyptian industries and increasing bilateral trade.

On the industrial front, Siemens Egypt Automation and Drives signed three agreements with the Industrial Modernization Center (IMC) and the Industrial Training Center (ITC) to develop the production capabilities of select manufacturers in the industrial sector and upgrade the infrastructure of ITC.

Another agreement was signed by Lacto Egypt and Alp Milk, both powered milk manufacturers, to allow the production of their respective products in each others factories for the sale in the Egyptian and German markets.

IMC Executive Director Adham Nadim says the Siemens agreements call for the establishment of 50 training centers in universities and vocational schools to be operated jointly by Siemens and ITC. Thecenters will provide one-week training programs to students on the use of digital machinery used in manufacturing material such as wood, plastic, aluminum and fabric.

The centers will cost about LE 2 million each, with Siemens contribution set at 65 percent. Nadim says the goal is to establish 12 to 15 centers in the next six months, with the rest to be establishedand operational in the next two years. Once fully functional, the centers will produce 70,000 trainees annually, he adds.

It s a very good example of corporate social responsibility and collaboration with the industry in a developmental win-win situation, Nadim told The Daily Star Egypt.

In exchange, Nadim says, Siemens machines will gain more access to the Egyptian market as a result of shaping the familiarity and orientation of trainees.

If you train people on Siemens machines, they are going to have that brand associated with something they did in school, Nadim says. It is a win-win situation for everyone, I think. And we are open to other companies in industry that would want to participate in similar projects.

With IMC, Siemens has agreed to upgrade machines in 50 factories to be selected in sectors ranging from chemicals and pharmaceuticals to engineering and textiles to increase the quality of final products. Nadim says machines purchased by many manufacturers 10 to 15 years agoare quickly becoming obsolete because they lack efficiency-driven digital technologies developed over that time but rarely implemented in Egypt.

Topics: FJP

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https://www.dailynewsegypt.com/2007/02/04/egypt-germany-sign-four-agreements-to-increase-economic-cooperation-between-the-2-countries/
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