Trade Ministry, Arab-German Chamber explore ways to boost economic ties

Daily News Egypt
2 Min Read

Minister of Trade and Industry Ahmed Samir met with Jan Noether, CEO of the German-Arab Chamber of Industry and Commerce, to discuss ways to enhance the economic relations between Egypt and Germany in various fields, including trade, industry, and investment.

Samir said that the Egyptian government values its bilateral ties with Germany, which is one of its most important economic partners among the European Union countries. He added that the ministry is committed to supporting the German companies that operate or wish to invest in the Egyptian market.

He also said that the ministry and the chamber are working together to attract major German companies to invest in Egypt, especially in the sectors that aim to localise industry and increase the competitiveness of the local product.

Samir explained that Egypt, like other countries, has been affected by the global economic crises and the disruptions in the global supply chains. He said that the ministry has analysed the structure of Egypt’s imports to determine the share of production inputs and raw materials. He said that the government has offered a range of incentives to encourage investments in these areas, such as tax exemptions, land subsidies, golden licenses, and facilitation of business procedures.

Noether, on his part, expressed Germany’s interest in strengthening its cooperation with Egypt, which is a key country in the Middle East and Africa region. He noted that there has been a significant increase in the mutual visits and meetings between the officials, businessmen, and representatives of the business associations of the two countries, which reflects the depth and importance of the bilateral relations between Egypt and Germany.

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