Germany’s Minister of Economic Cooperation and Development Gerd Müller will be visiting Egypt next October or November, heading a delegation of key German businessmen, said Egyptian international cooperation minister.
Minister of International Cooperation Sahar Nasr further said on Sunday the visit would witness signing a number of cooperation protocols in addition to inspecting some developmental projects in the North African country.
The delegation will also take part in an economic cooperation forum between the Egyptian and German private sectors, Nasr added.
Nasr has concluded a four-day visit to Germany, where she chaired Egypt’s delegation at the Egyptian-German Joint Committee held in Berlin.
Egypt will host the upcoming Egyptian-German Joint Committee amid plans to hold it in one of the Upper Egyptian governorates, Nasr stated.
Egypt has signed earlier on Friday the 2016-2018 cooperation agreement totalling €153 million (around $174 million) with Germany. Thus, the cooperation portfolio between Egypt and Germany has increased by 50 percent.
The agreement includes Germany’s €100 million soft loans and €53 million grant at an interest rates of 2 percent, and a 10-year grace period, to be paid over 30 years.
Minister Nasr has signed the agreement with German Minister Gerd Müller, in presence of Egyptian Minister of Trade and Industry Tarek Qabil.
