11/08/1997
Al-Ahram Al-Ektsady Magazine 1997/AUGUST /11
The Federation of Egyptian Industries gathered in Colon to sign a cooperation protocol with its German counterpart. The deal aims at boosting mutual trade and attracting more German investment to Egypt. Some steps have already been taken to achieve this goal, yet the Egyptian investment climate is still not very encouraging, according to some German personalities attending the meeting. (Available in Arabic – German in PDF )
The Federation of Egyptian Industries gathered in Colon to sign a cooperation protocol with its German counterpart. The deal aims at boosting mutual trade between the two countries and attracting more German investment to Egypt. This investment is still limited. Yet, the signing was an occasion for the Egyptian businessmen attending the meeting to show that the environment for foreign investors in Egypt was improving. Inflation has been decreasing and measures have been taken to liberalize the local economy. The German minister of economy acknowledged this improvement, but he also said that much more remained to be done. A German businessman attending the conference, for example, called for making customs procedures in Egypt less complicated and time-consuming. The minister also mentioned the upcoming Doha meeting between the two countries and affirmed that the recent tragedy of German tourists in Egypt would not affect the bilateral relations between Cairo and Berlin.