Business Hub – Berlin
Nevin Gameh Distinguished investment opportunities in Egypt in the fields of producing traditional and electric cars to meet local needs and export to regional markets
Minister of Trade and Industry Nevin Gamea concluded her visit to the German capital, Berlin, by holding a series of extensive meetings with members of the German Association of Automobile Manufacturers and officials of the German retail chain, during which she reviewed opportunities and elements of investment in the Egyptian market and the possibilities of attracting more German investments to Egypt during the coming stages.
The meetings were attended by Dr. Jihan Saleh, Economic Adviser to the Prime Minister, Minister, Commercial Plenipotentiary, Yahya Al-Wathiq Billah, Head of the Commercial Representation Authority, and Hatem Al-Ashry. Advisor to the Minister for Corporate Communication, Minister of Trade Plenipotentiary Nasser Hamid, Director of the European Department of Commercial Representation, And Minister, Commercial Plenipotentiary Abdel Aziz Al Sharif, Head of the Egyptian Commercial Office in Berlin.
The minister’s meetings included an extensive meeting with members of the German Automobile Manufacturers Association, which dealt with ways to attract more German companies and investments to work in the Egyptian market in the field of producing conventional and electric cars to meet the needs of the Egyptian market, export to regional markets, and benefit from free and preferential trade agreements signed between Egypt and a large number of Countries and major regional and global economic blocs
The minister said that the meeting reviewed the national strategy for the auto industry and the incentives granted by the government to auto manufacturers with the aim of localizing this industry in the Egyptian market. She pointed to the Egyptian state’s interest in attracting more German investments, especially in the automotive industry sectors.
Gameh added that the meeting reflects Germany’s car manufacturers’ interest in investing in the Egyptian market, as it is one of the most important investment destinations in the Middle East and Africa. She pointed out that the meeting dealt with the possibilities of cooperation with the German side in the field of transferring the technologies of the automobile industry to the national industry.
The minister indicated that the meeting dealt with the offer of one of the major German car manufacturers to produce an electric car in Egypt in cooperation with an Egyptian company, where an agreement to start production will be signed soon. Pointing out that the meeting reviewed the desire of a German company to establish a project to produce steel used in the automobile industry in cooperation with an Egyptian partner
Nevin Jameh, Minister of Trade and Industry, also held an extensive meeting with officials of the German ALDI retail chains, The meeting reviewed the components of the retail sector in Egypt and the possibilities of the group’s entry to invest in the Egyptian market during the next stage
ALDI will visit Cairo next September to discuss opening branches of the group in Egypt
The minister said that a delegation from the German group will visit Cairo during the month of September with the aim of studying the start of opening branches in Egypt. She pointed out that the visit will include meetings with a number of ministries and concerned authorities and the organization of a number of field visits.
Gamea added that the meeting reviewed the possibility of organizing an Egyptian trade mission to Germany that includes a number of Egyptian companies concerned with exporting to the German market to present their products to the group. The group’s foreign procurement officials are invited to visit Egypt and discuss the possibility of importing a number of food products and agricultural commodities from Egypt.
For their part, the German “Aldi” group officials confirmed the group’s interest in the Egyptian market, as it is one of the largest consumer markets in the region, with more than 100 million consumers. Noting that the group is one of the most important and largest low-priced retail chains in Germany in particular and in Europe in general, it has more than 4,500 branches in Germany and 10,000 branches in 20 countries around the world.