Egypt’s Minister of Trade and Industry Nevine Gamea has announced that a new plan is being developed for the system of external and internal exhibitions, to boost the country’s exports in global markets.
The plan is also one of the main pillars in increasing the competitiveness of Egyptian products both locally and abroad. It also highlights the importance of providing effective alternatives to the export promotion system, to avoid the negative effects of the novel coronavirus (COVID-19) on the global trade movement.
The minister’s remarks came during a meeting with the delegation from the German Arab Chamber of Industry and Commerce (GACIC-AHK), which dealt with the chamber’s role in supporting joint commercial, industrial and investment cooperation projects between the two countries.
The meeting also reviewed the services provided to business circles by the chamber, in order to enhance the joint economic cooperation system between the two countries.
She said that the Egyptian government is keen to provide full support to the various local and foreign investments operating in the Egyptian market. This will take place by providing all industrial services, and eliminating the challenges facing these investments.
At the same time, the minister said that the facilitation and clarity of procedures represent the greatest incentive for investors.
Gamea referred to the importance of digital platforms in strengthening global economic cooperation during the current stage. She also highlighted the importance of benefiting from Germany’s significant expertise in the field of digital marketing and e-commerce in the Egyptian economy.
CEO of AHK, Jan Noether, said that the chamber is the largest of its kind in the Middle East region, due to its having 2,500 companies under its umbrella. It acts as a link between the Egyptian and German governments and businessmen.
He highlighted the chamber’s keenness to promote the Suez Canal Economic Zone (SCZone) to German business circles. The SCZone is considered one of the distinguished investment areas in the Egyptian market, providing many investment opportunities and incentives for foreign investments.
For his part, Peter Hoffmann, Head of the Economic Department at the German Embassy in Cairo, affirmed the confidence of German business circles in the Egyptian market. They regard Egypt as one of the main investment destinations in the Middle East and Africa (MEA) region.
At the same time, Hoffmann noted that the current period is witnessing great momentum in the joint economic cooperation system. This is especially in light of the positive trend of German companies operating in the market, and their desire to continue and expand during the next stage.