$6 billion in income from Egyptian tourism expected in 2002

The general association for the German - Arab trade chamber unanimously ratified the new adjustments in the chamber's internal list, estimating its 1998 activities and budget and changing its name to the Arab - Germany Industrial and Trade Chamber in Egypt, as well as expanding the geographic range for the chamber's work to include the Middle East area.

Peter Michael Dingens, Germany's ambassador in Cairo, stressed during the chamber's general association Egypt's participation in the Hanover international exhibition that will be held in June 2000 under the slogan "Man, Nature and Technology," in which 180 countries represented by 300,000 exhibitions will participate. The fair is expected to be visited by 40 million visitors.

According to estimates made by international financial corporations like the International Monetary Fund, the chamber's economic report expected flourishing investment movement in Egypt during the coming year that will increase Egypt's incomes from tourism to more than $4 billion in the fiscal year 1999-2000, to increase to $6 billion in the fiscal year 2002-2003.

Germany is considered the second-largest exporter to Egypt, as German exports to Egypt in 1998 reached $1.4 billion in comparison to $1.1 billion in 1997. Germany occupies the seventh position in the list of the importing countries from Egypt, as this import volume reached $49 million in 1998.