Germany and Egypt to partner more because of Egypt’s open economy and policies.

Egypt’s open economy progress is commendable says Germany. This is according to Thomas Bareiß; German’s parliamentary state secretary at the Federal Ministry for Economic Affairs and Energy BMWi bund.

To further strengthen mutual links between Egypt and German, a high level German economic delegation visited Egypt this February.

The delegates included 120 officials plus Thomas Bareiß. They met with Egypt’s Prime minister Mostafa Madbouly and President Abdel Fattah Al-Sisi to discuss bilateral relations. Heading the German delegation was the Federal Minister for Economic Affairs and Energy, Peter Altmaier.

According to Bareiß, while democracy is the key to boost economy and businesses, bureaucracy is still an issue affecting businesses in Egypt. However, he assured the Egyptian government of German’s partnership as he said “there are a lot of areas where we can work together”.

Egypt’s open economy will help more German companies enter the country and also already investing companies will have the opportunity to expand.

According to reports in 2018, Germany was Egypt’s biggest European trading partners. Their partnership had a total trading value of of about US$6bn.

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