Kabil, German amb. review preparations for Sisi's prospective visit to Germany

Trade and Industry Minister Tarek Kabil reviewed on Wednesday with German Ambassador in Cairo Julius Georg Luy preparations for a prospective visit by President Abdel Fattah to Germany next week.

Sisi is scheduled to attend the German-African summit that will focus on the future of joint investments, Kabil said.

The summit is expected to give momentum to the Egyptian-German cooperation in trade and economic domains, he added.

The president will also attend the Egyptian-German business forum which is meant to get Egyptian and German companies to hold talks and establish joint ventures for the best interests of both countries, he said.

President Sisi is scheduled to ink the minutes of the joint economic committee meeting which is due to be held during his visit to Germany, Kabil said.

Exchanging official visits between the two countries in the recent period has paved the ground for a new stage of economic cooperation.

He noted that the volume of trade exchange between the two sides hit 5.567 billion euros last year, marking a 10 percent rise in comparison with 2015.

German investments in Egypt reached 619.2 million dollars until January, 2017, he said, noting that Germany occupied the 20th position among countries investing in Egypt.

The German ambassador highlighted the pivotal role played by Egypt in the Middle East region in various domains.

He added that German investors give priority to Egypt which provides a unique business market.

He said there is a great opportunity for boosting investment cooperation in various production and service domains.

The diplomat added that Sisi's visit will contribute to expanding economic cooperation.

Source: MENA