Egyptian-German trade increases 1 billion marks in one year

Ahmed Goweili, the Egyptian minister of trade and supply, announced yesterday that German statistics confirmed in a report that the volume of foreign trade between Egypt and Germany increased during the last year to 3.8 billion marks, up from 2.9 billion during the previous year.

The report said that there is positive progress in the structure of Egyptian exports to the German market, represented in the increasing value of the fully manufactured products exported, which was recorded at 19.3 million marks with an increase of 19% over last year, 49% more than in 1995, yet this will not be a positive indicator that reflects the industrial development Egypt is currently experiencing.

The report also said that Egyptian exports of cotton and textiles achieved a noticeable increase in 1997, reaching 147.3 million marks compared to 112.9 million in 1996.

Goweili also said he will hold a meeting between German and Egyptian industrialists dealing with industries in Egypt in order to establish joint projects.