Forming an Egyptian - German business council

Economic sources in Cairo said that an Egyptian - German business council is being established following the successful visit paid by Egyptian President Hosni Mubarak to Bonn this week.

The sources told ArabicNews.com that the council will convene its first meetings in the coming month in Cairo for three days, to be the first direct connection among investors in both countries.

The sources said the council's main task will be transferring German technology to different sectors of the Egyptian economy in addition to establishing a German university in Egypt that focuses on applied and natural science.