04/02/2007
The accords target the increase of competiveness of the Egyptian Industry via the development and modernization of the utilized technology , in addition to the upgrading of the skills of the cadres employed in the industrial sector and the opening of new markets for the export of Egyptian products. ( Available in Arabic )
Engineer Rashid Mohamed Rashid Minister of Commerce and Industry together with Mr. Michael Gloss the German Minister of Economy and Technology , witnessed the signature of said accords. These deal among other with the modernization and upgrading of 30 Egyptian plants specialized in the manufacture of machinery and equipment required by different governorates. Targeted as well, was the enhancement in the use of digital technology within the sectors of textiles, chemicals, drugs, furniture , foodstuff and engineering items. Dr. Nazif , addressing the Business Forum, specified that Egypt welcomes the German business sector’s dealings in the unconventional fields leading to the increase of investments, stressing that in Egypt , Africa, and world wide markets are open for dealing in power, oil and gas. He added, that projects in the field of tourism have been implemented and are expected to lead to the start of important bilateral projects within this sector. On her part, the German Chancellor praised the role played by Egypt in pushing forward the peace process in the area, which she described as facing extremely difficult circumstances. The efforts spent in the field of development received high praise by the German Chancellor, who went on to say, that the favorable climate for investment reigning in Egypt as the outcome of the leadership of President Hosni Mubarak are surely leading to new horizons of cooperation between the two countries.
