Egypt Discusses Expanding Economic Cooperation with Germany, India

Egypt’s Deputy Prime Minister for Economic Affairs, Hussein Eissa, held separate meetings on Tuesday with Jürgen Schulz, Germany’s ambassador to Cairo, and Suresh K. Reddy, India’s ambassador to Egypt, to explore ways to strengthen economic and development cooperation with both countries.

The meetings, held at the government headquarters in Egypt’s New Administrative Capital, focused on expanding bilateral partnerships across a wide range of economic sectors and enhancing investment opportunities.

During his meeting with the German ambassador, Eissa expressed Egypt’s appreciation for its longstanding development partnership with the Germany, describing it as one of Egypt’s most significant European partners in development cooperation. He noted that the current portfolio of joint projects spans several key sectors, including energy, water resources, sanitation, irrigation, solid waste management, and initiatives aimed at improving the competitiveness of the private sector.

Eissa also highlighted the “Investment for Employment” initiative implemented by the KfW Development Bank, which provides grant funding to support investment projects through a competitive selection process focused on projects with strong job-creation potential.

He said the initiative could support a wide range of sectors, including construction and related supply industries, metal and electrical manufacturing, education and social services, food industries, transportation and logistics, information technology, as well as the hospitality and tourism sectors.

The deputy prime minister also reviewed the Egyptian-German debt swap program, describing it as an innovative mechanism that supports Egypt’s green transition efforts. He noted that additional phases of the program could be launched to support energy efficiency in the industrial sector, green hydrogen projects, and technical and vocational education.

Both sides emphasized the importance of continuing to strengthen economic and development cooperation and supporting joint initiatives that contribute to sustainable development, attract investment, and generate employment opportunities.

In a separate meeting with the Indian ambassador, Eissa underscored the deep-rooted historical ties between Egypt and India, noting the steady progress in bilateral relations in recent years, particularly in the fields of trade, investment, and economic cooperation.

He affirmed the Egyptian government’s commitment to further expanding bilateral cooperation and opening new avenues for partnership, particularly in light of Egypt’s accession to the BRICS grouping, which he said offers additional opportunities to broaden economic and development collaboration between the two countries.

Eissa also reviewed the government’s ongoing efforts to restructure economic authorities and state-owned enterprises, as well as the implementation of the national public offerings program aimed at maximizing the value of state assets and attracting additional local and foreign investment.

The program includes offering stakes in a number of major institutions and companies operating in sectors such as banking and financial services, energy, infrastructure, logistics, insurance, and pharmaceuticals, creating promising opportunities for international investors to enter the Egyptian market through public offerings or strategic partnerships. Eissa invited Indian companies to take part in the initiative.

The discussions also addressed opportunities to enhance cooperation in emerging sectors, including innovation, technology, and digital transformation, as well as supporting startups and strengthening collaboration between innovation ecosystems in both countries. The two sides also explored ways to encourage greater Indian direct investment in Egypt, particularly within the Suez Canal Economic Zone.

Eissa further praised the ongoing cooperation between the two countries in capacity building and the training of government officials through the Indian Technical and Economic Cooperation program, which has contributed to the training of a large number of Egyptian professionals. He expressed Egypt’s interest in expanding this cooperation to include more specialized training programs, joint workshops, and postgraduate scholarship opportunities at Indian universities, aimed at strengthening knowledge exchange and institutional capacity building.