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Germany realises Egypt’s progress toward more economic openness - Daily News Egypt

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Germany realises Egypt’s progress toward more economic openness

‘Democracy key to boost economy, businesses,’ says Bareiß


Germany realises that the Egyptian government achieved progress toward a more open society, Thomas Bareiß, the parliamentary state secretary at the Federal Ministry for Economic Affairs and Energy, told Daily News Egypt.

Earlier in February, a high level German economic delegation visited Egypt including Bareiß in addition to over 120 officials, and it was headed by the Federal Minister for Economic Affairs and Energy, Peter Altmaier. The delegation met with President Abdel Fattah Al-Sisi in order to discuss the bilateral relations and visited the Nativity of Christ Cathedral, Al Fattah Al Alim Mosque, and the Siemens power plant at the New Administrative Capital.

“We had a very interesting schedule including meetings with the Egyptian President and the Prime Minister, Mostafa Madbouly, where we aimed at deepening our mutual links,” he commented.

Germany would like to support the economy and business in the Egyptian market, he added, noting that his ministry is keen on helping German companies enter Egypt, and the current investing companies to expand.

“There are a lot of areas where we can work together. Democracy is a key to boost the economy and businesses,” he mentioned, noting that bureaucracy is still an issue which faces businesses in Egypt.

In 2018, Germany was Egypt’s biggest European trading partner, with a total trade volume of about $6bn, according to a past statement of the embassy.

Bareiß was appointed as the parliamentary state secretary at the Federal Ministry for Economic Affairs and Energy on 14 March 2018.

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