(MENAFN- Daily News Egypt) Jürgen Schulz, Germany’s ambassador to Egypt, has emphasized Germany’s strong economic ties with Egypt, noting that it is among the country’s five largest trading partners.
“The German-Arab Chamber of Industry and Commerce (AHK Egypt) is a significant and decisive asset for Germany’s commercial and trade work,” Schulz said during his speech at the 2024 AHK General Assembly.
During German President Frank-Walter Steinmeier’s visit to Egypt, President Abdel Fattah Al-Sisi emphasized Germany’s central role in supporting Egypt’s transport sector.
In collaboration with AHK Egypt, the German Embassy works actively to strengthen the private sector and strengthen the investment climate in Egypt. In addition, during the visit of Bavarian Prime Minister Markus Söder, Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Esmat, signed a joint statement with Bavaria to promote cooperation in the hydrogen sector.
On October 15, AHK said goodbye to its board, 2022-2024. Accordingly, the Chamber has expressed its heartfelt gratitude and appreciation to the outgoing Board of Directors, recognizing their vital role in supporting the Chamber and its members over the past years and contributing significantly to its success.
The long-awaited moment has arrived, as the members have elected the new board for the period 2024-2026. As the core of the hall, it is essential that members feel well represented. The Chamber also extended its thanks to all candidates who participated and congratulated the newly elected Board on their success.
Hossam Heiba, President of the General Authority for Investment and Free Zones (GAFI), said: “The current level of presentation of German companies in Egypt does not accurately represent the strong bilateral relationship between Germany and Egypt. It is therefore our aim to increase the number of German companies operating in Egypt.”
Hossam Heiba highlighted the government’s ongoing cooperation with German partners to strengthen investment flows between Egypt and Germany. Despite challenges since 2011, the General Authority for Investment and Free Zones (GAFI) has been steadfast in addressing them.
GAFI’s primary objective is to simplify market access by reviewing laws and regulations to ensure they facilitate, rather than hinder, investment. The focus has shifted towards effective enforcement of existing laws rather than introducing new ones.
In addition, GAFI has made significant efforts to improve the efficiency of import and export processes, expedite the release of goods and establish fair competition rules in the private sector to ensure a fair environment for all stakeholders.
Schulz and Heiba highlighted the importance of trade and commerce relations between Germany and Egypt in their speeches.
The members of AHK Egypt have elected the new board for the period 2024-2026, having elected seven representatives for both the Egyptian and German sections.
In the Egyptian chapter, Ahmed El Sewedy of El Sewedy Electric was named chairman while other members include Abir Leheta of the Egyptians, Mohamed El Banna of El Banna Group, Amir Riad of Bavaria Egypt, Emad Ghaly of SDSmena, Medhat Elaraby of El Araby Group , and Mohamed El-Sheikh of Electro-Mechanic for Energy (EME).
Stefanie Stolz of Mercedes-Benz Egypt was elected treasurer and Alaa Kamal of INP Egypt served as vice-chairman. The board also includes Mostafa El Bagoury from Siemens Industrial, Thomas Kufahl from ThyssenKrupp Uhde, Amro Kandil from Siemens Healthineers, Hassan Wardani from Evonik Egypt and Hatem Ismail from Bayer.
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