Egyptian Minister of Trade and Industry Tareq Qabil said President Abdel Fattah El Sisi's keeness on meeting with major international companies during his foreign trips gives an ensuring message that Egypt is going in the right direction and welcomes any foreign investments.
In statements to the media delegation accompanying Sisi during his current visit to Berlin, Qabil asserted that Egyptian-German relations have recently witnessed a notable progress at the economic, political, trade and investment levels, especially in the wake of the successful visit of President Sisi to Berlin last year.
Exchanging visits at the highest levels between the two countries would give an impetus to all efforts aimed at pushing forward bilateral relations, said the minister, noting that the volume of trade exchange hit euros 5.5 billion in the past year, a volume which has placed Germany on top of the key trade partners to Egypt.
The volume of trade exchange in the first quarter of 2017 reached euros 1.8 billion, with a notable increase of 44 percent compared with the rates of the previous year, added the minister.
Trade Ministry is currently attaching great importance to upgrading the sector of small- and medium-scale enterprises, Qabil said, asserting that such sector is representing more than 80 percent of the economic system in Egypt.
As per the economic reforms conducted by the government, the minister said the liberalization of exchange rate and other measures aimed at propelling local and foreign investments through the new investment law have greatly contributed to improving the current investment climate and restoring the position of the Egyptian market as one of the important destinations of regional and international investments.
The minister made it clear that the Egyptian market provides great opportunities for the German capital which seeks to utilize the natural resources and skilled workforce at competitive prices.
Egypt's geographic location and the agreements clinched by Cairo with various world countries in Africa and the European Union are among the factors which gives Egypt access to almost 1.8 consumers worldwide, added the minister. 

Source: MENA