Germany and Egypt deepen economic cooperation

Posted on November 29, 2024   |  

Egypt's Minister of Investment and Foreign Trade met with Germany's Deputy Chancellor and Minister of Economy to strengthen trade and economic ties.

They scheduled the next Joint Economic Committee meetings in Cairo for February 18-19, with top German business leaders set to attend.

The meetings will focus on improving trade, attracting investments, and planning future cooperation.

Belchem shared plans to invest €30 million in a new factory in Egypt, covering 100,000 square meters, to produce industrial fibers for automotive and aviation industries.

A Belchem team will visit Egypt soon to move the project forward.

German business leaders showed interest in investing in Egypt, especially in infrastructure, renewable energy, and technology sectors.