43 prercent increase in exports from Germany to Egypt

The information official at the Arab - German Chamber of Commerce, Basant Helimi, said the chamber is holding a symposium about German - Egyptian economic relations on September 23 in which Egyptian Minister of Trade Ahmed Goweili will deliver a statement about Egyptian - European trade and removing obstacles hindering the development of trade exchange between Egypt and Europe.

The German ambassador in Cairo, Peter Mekhael, will tackle the economic cooperation between the two countries and the recent economic developments between Egypt and Germany.

Helmi referred to an increase in the volume of trade exchange between Egypt and Germany amounting to 3.8 billion German marks during the last year, while the growth rate of Egyptian exports to Germany were up 26% and that of German exports to Egypt grew by 43% during the first quarter of the current year compared to last year.

The value of German direct investment in Egypt reached 220 million marks in the automotive and iron industries.