Egypt to be major gas exporter by 2006

"Egypt in 2006 will be one of the world's seven major natural gas exporters" the German Federal Foreign Trade Bureau (GFFTB) in Cairo said yesterday.

In the report it sent to the Ministry of Foreign Trade and Industry, GFFTB said that Egyptian-German trade has been growing since 2003 because of the competitive capability of the Egyptian products.

"There are promising opportunities for Egyptian exports in the German market, especially in the textile and food sectors," says the report, which predicts an increase in Egyptian-German trade by 15-16 %in the fiscal year 2005-2006.

Egyptian exports to Germany, according to the latest German statistics, hit 241.3 million euro between January and June 2004, with German exports amounting to 661.5 million euros for the same period.