According to Egypt egypt reports,The trade volume between Egypt and Germany reached 5.5 billion euros in 2022, an increase of 7% compared with the previous year, which was 5.1 billion euros. The news was revealed by Egyptian Minister of Trade and Industry Ahmed Samir during a meeting with his German counterpart.
It is worth noting that Egypt’s exports to Germany exceeded the 1 billion euro mark in 2022, marking an important milestone in the bilateral economic relations between the two countries. Egypt and Germany are both keen to increase trade volumes and have set a goal of doubling trade volumes by 2022. In order to attract more German investments in Egypt, the Trade Minister presented a list of 152 targeted investment projects prepared by the Ministry of Trade and Industry. Additionally, the state has outlined incentives that will be offered to foreign companies, particularly German ones.
In September, Egypt’s Minister of International Cooperation Rania Mashat announced the signing of a debt swap agreement worth 54 million euros with Germany. The agreement focuses on strengthening Egypt’s energy sector, demonstrating the country’s commitment to providing the necessary financial support for implementation.
(Source: egypt Picture:freepik)
