Egypt’s Investment Minister Opens Egypt–North Rhine-Westphalia Economic Summit with 100 German Companies Present
Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, concluded his visit to Germany by meeting with the State Minister for Economic Affairs of North Rhine-Westphalia. The two officials discussed potential avenues for cooperation in trade and investment, agreeing that a German delegation led by the state minister will visit Egypt next year, accompanied by companies based in the state, to host the second Egypt-North Rhine-Westphalia Economic Summit.
During the first summit, attended by around 100 German companies interested in the Egyptian market, El-Khatib highlighted Egypt’s recent economic developments, including fiscal, monetary, industrial, and trade policies aimed at fostering growth. He emphasized the importance of strengthening economic ties between Egypt and North Rhine-Westphalia and invited participating companies to explore the diverse investment opportunities in Egypt, positioning it as a bridge between Germany and global markets.
El-Khatib also addressed Egypt’s ongoing economic reforms, outlining both the achievements and challenges, and strategies for overcoming them.
Egyptian Ambassador to Germany, Mohamed El-Badri, commended the summit’s ambitious goals and emphasized the significance of El-Khatib’s visit to Düsseldorf in strengthening bilateral economic and investment relations.
A joint declaration was signed by the Egyptian Commercial Representation and NRW Global Business, outlining a digital action plan to enhance economic, trade, and investment cooperation between Egypt and North Rhine-Westphalia. This plan aims to increase trade and investment volumes, with progress to be reviewed at the next summit in Cairo.
A panel discussion featured Yehia El-Wathik Bellah, Head of the Egyptian Commercial Representation, Mohamed Abdel-Gawad, Vice President of the Suez Canal Economic Zone (SCZone), and representatives from German companies including Thyssenkrupp, Energy for Climate, and Rayvenlaser. The discussion focused on investment opportunities in Egypt, strategies to boost German investments, and overcoming obstacles to investment flows.
El-Wathik Bellah projected that trade between Egypt and Germany could reach €9 billion by the end of next year, up from the current €7bn, with North Rhine-Westphalia accounting for €3bn. He noted that the plan’s outcomes will be assessed at the upcoming summit in Cairo.
Mohamed Abdel-Gawad presented the investment incentives offered by the SCZone, along with success stories from ongoing projects in the region.
Additionally, German airline Eurowings announced the launch of direct flights between Düsseldorf and Cairo, a move expected to enhance trade, investment, and tourism between the two regions.
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