German Ambassador to Cairo Jürgen Schulz has said that trade exchange between Egypt and Germany has reached €5bn, adding that many German companies are increasingly interested in investing in the Egyptian market.
Speaking at a press conference held at the embassy on Monday, Schulz noted that German firms are seriously considering opportunities in Egypt, though final decisions depend on market conditions, facilitation measures, and broader support for the private sector. He underlined Germany’s strong backing for Egypt in strengthening private sector participation in the economy.
Expanding investment and trade
Over the past year since assuming his post in Cairo, Schulz has held a series of meetings with German companies to explore Egypt’s investment climate. He cited the inauguration of Bosch’s home appliances factory as one of the most notable recent German investments.
Looking ahead, Schulz revealed that Germany plans to import green hydrogen from Egypt in the coming years, reflecting Berlin’s rising interest in renewable energy projects.
Debt-swap and green transition
Cooperation between the two countries is also advancing through the €340m debt-swap program, which supports green transition projects. Schulz noted that €100m has already been activated for development initiatives under the program, with further efforts underway in collaboration with the Egyptian government.
He stressed that Germany’s support for green hydrogen projects in Egypt—whether technical or financial—comes at the highest political level.
Political ties and cultural cooperation
Schulz also pointed to upcoming high-level German participation in the opening of the German Museum in Egypt, alongside political and economic visits. Earlier this year, delegations from Bavaria, Saxony, and other German states visited Cairo, signalling growing engagement at multiple levels.
On the Palestinian issue
Addressing regional matters, Schulz said Germany has provided around €300m in aid to Gaza and the Palestinian Authority. He stressed that peace cannot be achieved without Palestinian participation, and that Palestinians must be able to live in peace alongside Israelis.
The ambassador praised Egypt’s “responsible and smart” role in the Palestinian cause, citing Cairo’s mediation with the US and Qatar, reconciliation efforts between Fatah and Hamas, humanitarian aid, and the reconstruction plan that currently underpins ceasefire negotiations.
On recognising the State of Palestine, Schulz clarified that Germany views eventual recognition as the ultimate goal. However, he argued that recognition now would not alter current realities, stressing instead the importance of negotiations that would shape a future Palestinian state and pave the way to a two-state solution.
