A delegation for the Organisation for Economic Cooperation and Development (OECD) was received by the German ambassador to Egypt on Tuesday for their one-day visit to Cairo.
According to the German Embassy in Egypt, the visit’s focus was applying the “Compact on Economic Governance” which was approved on 6 May 2015, supported by the G7 and Deauville Partner countries.
The compact was drafted during Germany’s presidency of the G7, in cooperation with the OCED. It was approved by all members of the Deauville Partner countries, including Egypt.
In the compact’s framework, Morocco, Egypt, Tunisia, Libya, Yemen, and Jordan are focused on applying procedures in favour of economic reform. These procedures are mainly to improve the investment climate and in particular to develop the private sector.
In return, the G7 countries and international organisations, which form part of the Deauville Partner countries, will provide technical support in this field.
During the visit, the OCED’s representatives together with the Egyptian government’s representatives are working on potential projects in which the compact can be executed. Germany will be financing one of these projects in order to implement the compact.