Egypt and Germany are currently in talks to set up the German industrial zone in the Suez Canal Economic Zone (SCZONE), as per a statement.

The announcement came during the sixth edition of the Egyptian-German Economic Committee meetings in Berlin, headed by the Egyptian Minister of Trade and Industry and the German Minister of State at the Federal Ministry for Economic Affairs and Climate Action.

The two sides have also signed a protocol to boost cooperation in the fields of trade, investment, small and medium-sized projects, climate action, and energy.

The trade exchange between Egypt and Germany rose 7% year on year (YoY) in 2022 to €5.5 billion, compared to €5.1 billion, Samir noted.

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