President Abdel Fattah Al-Sisi headed to Germany on Sunday on a four-day visit to take part in the G20 Compact with Africa (CwA), state-owned Al-Ahram newspaper reported on Saturday.
Al-Sisi is scheduled to hold bilateral meetings with the German Chancellor Angela Merkel and top German officials on enhancing bilateral cooperation and strengthening ties between the two countries, state news agency MENA cited Ulrike Demmer, deputy spokesperson for the German Executive.
Demmer said that Al-Sisi and Merkel will address bolstering cooperation, international and regional issues of common interest, countering terrorism in the region and eliminating illegal immigration.
Earlier this month, the German ambassador to Egypt, Julius Georg Luy told Daily News Egypt that Al-Sisi and a large business delegation will visit Germany from 28 to 31 October 2018 to discuss boosting bilateral relations.
According to Georg Luy, the expected trade exchange between both countries by the end of 2018 will record more than €6bn, which is 2017’s figure, noting, “I can’t define a specific figure for the whole of 2018’s trade exchange because it is a private sector issue, not a governmental-coordinated approach.”
Georg Luy added that a joint business forum will be held throughout the visit, mentioning, “joint agreements are likely to be signed, but we will wait and see.”
Earlier on Saturday, Germany announced that it will hold the first meeting between the Group of 20 (G20) and the leaders of African Countries on Tuesday, according to Demmer.
The CwA was launched in 2017, and initiated under the German G20 Presidency to promote private investment in Africa. Eleven African countries joined the initiative so far: Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia according to the initiative’s website.
The CwA aims to increase the attractiveness of private investment through substantial improvements of the macro, business, and finance frameworks.