Sisi’s German visit to yield important economic results

Egyptian President Abdel Fattah El Sisi’s upcoming Germany visit is expected to yield important economic results as a number of contracts and agreements will be signed in the energy, housing, infrastructure, education and training fields, Egypt’s Ambassador here Mohamed Hegazy said.

The Egyptian envoy expected the volume of trade between Egypt and Germany, which hit 4.4 billion euros in 2014, to increase.

Germany’s investments in Egypt have reached 2.2 billion euros, making the country Egypt’s third most important trade partner worldwide and the first in Europe, he said.

President Sisi will attend part of the Egyptian-German economic forum, which will group many large German companies looking for investment opportunities in the Middle East, along with Egyptian businessmen who will present available promising investment opportunities, he added.

Economic investment opportunities in the projects of the Suez Canal Development Corridor and new Administrative Capital will be floated during the visit as well as opportunities in the tourism, transport, energy and construction domains, he added.

The president will also probe means to increase the number of German holidaymakers in Egypt, he said.

He will also discuss ways to raise Egyptian exports to Germany, mainly natural gas, petroleum, ready-to-wear garments, cotton fabrics, fresh fruits, potatoes and other items.
Source: MENA