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Monday, 22 July 2019

Egypt-Germany trade volume hits 4.5 bln euros in 2018: Cabinet

MENA , Wednesday 26 Jun 2019
Cabinet
Egyptian Cabinet (Photo: Al-Ahram)
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The Egyptian cabinet's media centre said on Wednesday that relations between Egypt and Germany have witnessed great development on all levels, particularly the economic ones as the volume of trade between the two countries hit 4.5 billion euros in 2018 and German investments in Egypt reached around $7.4 billion at the end of June 2018.

An infograph posted on the centre's official Facebook page shed light on the return of the German Mercedes Benz to the Egyptian market and Bosch pumping new investments in Egypt in addition to Siemens.

Egypt's exports to Germany increased by 10.6 percent, reaching 361.3 million euros, from January to March 2019, compared to 326.5 million euros during the same period in 2018.

Egypt's oil exports to Germany increased by 23.5 percent reaching 168.3 million euros from January till March 2019, compared to 136.3 million euros during the same period in 2018.

The infograph was posted coinciding with the visit to Germany by Prime Minister Mostafa Madbouly, who is leading Egypt's delegation to the meetings of the German-Arab Economic Forum, a key economic and investment event for cooperation and establishing economic and trade partnerships.

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