High level German business delegation to meet government representatives and business community in Cairo on Monday, continuing its discussion in Alexandria and Ismailia during the week
Berlin, September 14th, 2015
Former Federal Minister for Transport, Construction and Urban Development and President of the Ghorfa Arab German Chamber of Commerce and Industry as well as Chairman of the Committee for Economics and Energy in the German Parliament, Dr. Peter Ramsauer, heads a delegation of 40 German company representatives starting its fact finding mission to Egypt on Monday to boost bilateral economic relations between Germany and Egypt.
Besides talks in Cairo, the delegation will meet with members of the business community and government officials in Alexandria and Ismailia on Tuesday and Wednesday.
The delegation is organized by the Ghorfa Arab-German Chamber of Commerce and Industry e.V. in cooperation with the Federation of Egyptian Chambers of Commerce (FEDCOC). The Ghorfa represents the Chambers of Commerce and Industry of all Arab countries in Germany.
German-Egyptian economic relations remain successful and prosper. Bilateral trade reached 4.4 billion Euro in 2014, which makes Germany the 5th biggest trading partner for Egypt worldwide. This trade volume is composed of exports worth 2.8 billion Euro from Germany to Egypt and some 1.6 billion Euro worth of Egyptian exports to Germany. Trade has been growing during the first six months of the current year 2015 by 18.5 % (German exports) and 12.5 % (Egyptian exports) respectively.
German investment reached an accumulated net position of 1,159 billion Euro as of 2013 with at least 68 companies being present in the country representing approximately 23,000 employees and an annual turnover of 2 billion Euro.
For additional information, please contact:
Ghorfa Arab-German Chamber of Commerce and Industry, Press Department, Sandra Sebastian (email@example.com)