Egypt signs cooperation agreement with Germany: German Economy and Energy Minister Peter Altmaier signed yesterday with Trade Minister Amr Nassar an agreement to boost trade and economic cooperation, according to a Cabinet statement. Manufacturing, trade, investment, energy, transportation, infrastructure, tourism, and higher education are the most likely sectors to see enhanced cooperation, the minister said. Altmaier also noted that German investment in Egypt has reached USD 7 bn and is slated to increase further in light of positive economic and legislative developments, per Al Shorouk.

Altmaier also met with President Abdel Fattah El Sisi to discuss bilateral cooperation, according to an Ittihadiya statement. Prime Minister Madbouly also sat down with the German minister and an accompanying business delegation of 40 German companies to talk about Egypt’s investment and legislative climate, according to a separate Cabinet statement. Among those with the delegation was Roland Busch, COO and CTO of Siemens, who indicated that the German company is working on inking new investment agreements in Egypt, according to Al Shorouk.