Minister of Investment and Foreign Trade Hassan al-Khatib reviewed the economic developments in Egypt and the financial, industrial and trade policies adopted by the Egyptian state.
This came at the end of his visit to Germany where he discussed with the state minister for economic affairs in North Rhine-Westphalia promoting cooperation between both sides in trade and investment fields, according to a press release Saturday 30/11/2024.
He emphasized the importance of strengthening economic and trade ties between Egypt and North Rhine-Westphalia, the most populous state of Germany.
Khatib and the NRW minister opened the 1st round of a joint economic summit in the presence of 100 German companies which are interested in the Egyptian market.
Khatib invited all the participating companies to make use of available investment opportunities offered by Egypt.
He shed light on the most prominent results of the economic reform efforts adopted by the Egyptian government.
Meanwhile in his word at the event, Egypt’s Ambassador to Germany Mohamed el Badry lauded the ambitious goals of both sides, asserting the importance of Khatib’s visit to Düsseldorf, the capital city of North Rhine-Westphalia, which gave a strong push to relations with Germany at the economic and investment levels.
Head of the Egyptian Commercial Service Minister Plenipotentiary Yehia Al-Wathiq Billah highlighted investment opportunities available in Egypt for German companies, expecting the volume of trade exchange between Egypt and Germany to hit 9 billion euros by the end of next year, up from 7 billion a present and pointing out that the share of the state of NRW in that sum will be three billion euros.
Vice President of the Suez Canal Economic Zone Mohamed Abdel Gawad made a presentation at the event to spotlight all the investment opportunities and incentives offered by the SCZONE to German investors and showcase the success stories of many investment projects in the zone.
During the summit, the German airline Eurowings announced the official launch of direct flights between Düsseldorf and Cairo, promising that the move will contribute to boosting trade, investment and tourism relations between the two sides.
