A delegation of 100 German companies will visit Egypt by the end of April or early May to talk to Egyptian companies in the automotive components sector, according to head of the Engineering Export Council of Egypt (EEC) Amr Abu Frekhha.
The German companies’ mission is to assess the Egyptian companies’ potential to export automotive components to Germany, Abu Frekhha said.
The EEC has agreed to send an Egyptian trade mission to Germany following the Germans upcoming visit.
The chamber and the EEC are studying cooperation in different sectors, not just in the Bavarian automotive sector, Aby Frekhha said.
The EEC is negotiating with the chamber to increase Egyptian exports and put Egypt on the map as a place for sourcing instead of importing from Europe. Egypt hopes to attract investors and cooperation in infrastructure as Germany is one of the top European countries in the infrastructure sector.
“We started talks with the German-Arab Chamber of Industry and Commerce (GACIC) following the visit of Bavarian automotive companies, which asked to buy components from Egypt last week,” Abu Frekhha added. “It is a good step if we agree on exporting German companies’ products to fit with their quality, therefore, we will benefit from them.”
He commented on the initiative, saying that after negotiations Egypt can export to other countries.
In an interview with Daily News Egypt, GACIC CEO Rainer Herret said that German companies are interested in Egyptian automotive components, like brakes and tubing, as Egypt is a competitive market. Talks are still ongoing and no agreements have been signed as of yet.