Egyptian Minister of Trade and Industry Amr Nassar held a session of talks with the Director General of the German Federal Ministry for Economic Cooperation and Development Claudia Warning, to discuss future joint economic cooperation between the two countries, in the fields of trade, industry, and small and medium-sized enterprises (SMEs).
Nassar said that the meetings addressed means of enhancing the benefit of joint German-Egyptian cooperation projects in in the fields of SMEs as well as micro enterprises, developing technical education, and vocational training programmes.
The development of the SMEs sector is a priority for the ministry,, and is considered it is fundamental component of the Egyptian economy, in addition to being the largest provider of employment opportunities for youth and women, he pointed out.
Furthermore, Nassar elaborated that Egyptian exports to the German market increased considerably throughout the first half of this year by 9.5%, reaching €717m, compared to €654.6m during the same period last year.
Meanwhile, Egyptian imports from Germany decreased by 44% during the first half of the current year, registering at €1.473bn compared to €2.627bn during the same period last year, he highlighted.
For her part, Warning said that Germany pays extensive importance to bolstering economic relations with Egypt, as it is one Germany’s most important economic and trade partners in the Middle East.
Warning additionally pointed out that the German side looks forward towards providing additional training and technical support programmes in Egypt in the fields of developing SMEs, technical education, and vocational training, which will contribute towards the growth and modernisation of the industrial sector in Egypt, in addition to providing increased employment opportunities for young persons.