Germany’s Federal Minister for Economic Affairs and Energy Peter Altmaier is visiting Egypt from February 2 to 4, accompanied with an economic and parliamentary delegation, attempting to scrutinize the progress made through the country’s economic reforms, while strengthening economic relations between both parties, Invest-Gate reports.

During his first visit to Egypt, Altmaier is set to hold meetings with President Abdel-Fattah El-Sisi, Prime Minister Mostafa Madbouly, and other ministers in the Egyptian government. He will also visit the Coptic Cathedral, El-Fattah El-Aleem Grand Mosque, and power stations set up by Siemens in the New Administrative Capital (NAC), according to a press statement on January 31.

He will also attend the groundbreaking ceremony for the German International University and meet with representatives of civil society in Egypt. In addition, Altmaier and the Egyptian Minister of Trade and Industry Amr Nassar will inaugurate the fifth session of the Joint Economic Committee on February 4.

Commenting on Altmaier’s visit, German Ambassador to Cairo Julius Georg Luy said, “The visit of Altmaier reflects Germany’s great interest in Egypt as an important economic partner. It also provides an excellent opportunity to develop economic relations and discuss the progress of the ambitious economic reforms of the Egyptian government.”

The ambassador noted that Egypt has taken fundamental and bold reform decisions, and is now facing the challenge of continuing to undertake fundamental structural reforms and to continue its efforts to achieve sustainable development on the basis of market economies under tough framework conditions.

Germany is one of the closest economic partners to Egypt. In 2018, it was Europe’s largest trading partner with a trading volume of about USD 6 bn. Also, the Western European country supports the Egyptian economic reforms, sponsored by the International Monetary Fund (IMF), through the provision of bilateral loans worth USD 500 mn.

Besides, German tourists represent the largest foreign tourist group visiting Egypt every year.