Germany: Carrying out investments in Egypt is investing in future

GMT 17:33 2015 Thursday ,28 May

Arab Today, arab today Germany: Carrying out investments in Egypt is investing in future

Egypt's Ambassador to Germany Mohamed Hegazy
Berlin - MENA

Egypt seeks to attain economic stability and Germany sees that carrying out investments in Egypt is actually investing in the future, said Egypt's Ambassador to Germany Mohamed Hegazy.

In exclusive statements to MENA correspondent here, Hegazy further said that Germany referred to Egypt's role as crucial in the stability of the Middle East.

Berlin is an important economic partner for Cairo, Hegazy said, adding that the volume of trade exchange between the two countries stands at 4.5 billion euros.

The ambassador noted that this figure was attained in 2014, adding that the German companies invest by about 2 billion euros in Egypt.

He also pointed out to the debt exchange program, which was presented by the German Chancellor to Egypt in 2011 and worth 240 million euros.

The first tranche, worth 80 million euros, involved development, irrigation, sanitary drainage and infrastructure projects, he noted.

The ambassador expected that the visit of President Abdel Fattah El Sisi to Germany will witness the signing of several agreements on the sidelines of the Egyptian-German business council and the business and economic committee of Egypt and Germany, which will be chaired by Trade and Industry Minister Mounir Fakhry Abdel Nour and the German economy minister.

The ambassador also pointed out to the four agreements with German Siemens, which will add 11,000 megawatts to Egypt's electricity grid.

He also referred to the agreement in which Egypt was picked as a partner for Germany in the International agricultural exhibition, which is considered one of the most important agriculture exhibition worldwide.


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