Germany-Egypt trade exchange hit $6.1bln in 2016

Egypt’s trade exchange with Germany has risen by 10 percent to reach €5.6 billion ($6.1 billion) during 2016, Minister of Trade Tarek Qabil said Tuesday.

Qabil made these remarks during his meeting with German ambassador to Egypt, Julius George Luy to discuss means to expand economic cooperation between the two countries.

Germany’s investments in Egypt amounted to around $619.2 million until January this year, making it the 20th biggest investor

Germany is Egypt’s 20th biggest investor, with investments amounted to around $619.2 million covering sectors of chemical goods, vehicles, communications, iron and steel, oil and natural gas, hygiene kits, and car components, the Egyptian minister stated.