Trade minister, German-Arab Chamber of Industry examine future coop opportunities

Egypt's Minister of Trade and Industry, Ahmed Samir, met with Jan Noether, CEO of the German-Arab Chamber of Industry and Commerce, to discuss economic cooperation opportunities with Germany. This includes trade and investment in various sectors such as food security, pharmaceutical manufacturing, and the fertiliser and agricultural nutrition sector. Samir's recent trip to Berlin and conversations with German officials and business leaders were also reviewed. The Egyptian government's commitment to strengthening relationships with Germany was highlighted, along with mentioning the multiple incentives Egypt offers to foreign investors. These include tax exemptions, reimbursing a percentage of the price of industrial land purchased if the project is completed within 18 months from construction start. Samir introduced an approval system named 'Golden License' for investors seeking to lease or acquire land to facilitate new investment flow. Noether recognised Egypt's key partnership status with Germany in the Middle East and Africa and praised Samir's consultations with German industrial associations. A significant number of German companies expressed interest in launching investment projects in Egypt due to these meetings. Lastly, Samir discussed his ministry's attempts to mitigate the global supply chain disruptions caused by the pandemic, maintaining production, and exports by ensuring the locally sourced industrial requirements.