26 May 2019 05:42 AM

Germany praises Sisi's participation in MSC & Merkel to partake in AL-EU Summit

Wednesday، 20 February 2019 - 01:03 PM
Germany praises Sisi's participation in MSC & Merkel to partake in AL-EU Summit


Director General for Asia, Middle East and South America Affairs at the German Federal Ministry for Economic Cooperation and Development (BMZ) Claudia Warning welcomed Egyptian President Abdel Fattah El Sisi's participation in Munich Security conference, praising the distinguished relations binding Egypt and Germany.

Interviewed by MENA correspondent in Berlin, Warning said President Sisi floated a set of key issues and his talks with German Chancellor Angela Merkel reflected the distinguished relations binding the two countries.

She also said Merkel will take part in the Arab League-European Union Summit, to be held in Sharm El Sheikh on February 24-25. 

The official also highlighted the noticeable development of economic and trade relations between Cairo and Berlin, adding that the volume of trade exchange recorded less than 6 billion euros in 2017.

Germany exports to Egypt includes machinery, automobiles, she said, adding that the Egyptian exports to Germany includes petroleum, natural gas, vegetables, clothes, minerals, textiles, electricity, plastic products, chemicals and glass products The German official expressed the German companies' resolve to offer support to Egypt in the fields of energy and infrastructure expansion, noting that Siemens company is an important partner for Egypt in several mega energy projects, citing the establishment of three energy stations with a capacity of 14,400 megawatts in the New Administrative Capital, Beni Suef and Burullus.

Asked about Egyptian-German cooperation in the field of education, Warning said the two sides have established cooperation in the fields of education and vocational training, noting that German Minister of Development Gerd Müller signed an agreement with Egyptian Education Minister Tareq Shawqi to boost vocational training in Egypt.

"Our common objective is to increase the number of the well trained workforce and get the youths more involved in the labor market," Warning added.

The German official highlighted the recent progress in the Egyptian economic atmosphere and praised the country's economic reform program which was negotiated with the International Monetary Fund. The economic reforms have positively reflected on the operation and size of business of several companies operating in Egypt, she added. 

Mega projects and the establishment of new urban areas are now the main focus of Egypt's economic policy along with the development of the Suez Canal area, the New Administrative Capital, shoring up power distribution and production in addition to the use of renewable energy sources, she said.

She voiced her appreciation of the Egyptian government plans in the coming years which aim at creating more job opportunities and increasing the government revenues through merging between the public and private sectors, noting that the government has fully recognized the importance of the private sector and increasing the rate of small and medium-scale projects which certainly beef up the economy. 

She also highlighted Egypt's success to resolve the energy problem after several years of suffering from the recurrent problem of power cuts, commending Cairo's plans to secure 20 percent of power needs in Egypt from renewable energy sources.

Regarding the role of Germany in enhancing investments in Egypt in view of the new investment law, the German official asserted that her country is really interested in the positive economic progress in Egypt and would continue its support in this regard. 

She also noted that the new investment law would give a strong sign for foreign investors and widely open the doors for access of new German companies in the Egyptian market.

Egypt is one of the key development partners for Germany in the region, she said, praising Egypt's huge human capabilities along with its strategic location and vast economic potentials.

Asked about her expectations in view of Egypt's presidency of the African Union, Warning said she pins much hope on Egypt in revitalizing the African continent especially in the issues relevant to infrastructure, youth employment, regional integration, renewable energy, dispute settlement and other no less important files.

MENA


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