The trade exchange between Egypt and Germany increased in 2016, where German exports to Egypt registered an increase of 33%, recording €4.4bn.
German-Arab Chamber of Industry and Commerce (GACIC) CEO Andreas Hergenröther stressed that Egypt has become a vital partner, being one of the more important markets for German machinery and botany technologies in the Middle East.
During the Egyptian-German Business Forum organised by GACIC, Hergenröther said that the food commodities trade exchange between Germany and Egypt registered €255m in 2016, expecting that to increase further in the coming years.
Hergenröther noted that Germany is Europe’s largest food producer and the third largest food exporter in the world, with the value of production amounting to €60bn. He added that the German food industry is the country’s fourth largest industry with an exchange value of €172bn.
He pointed out that Egypt’s crops boosted their German market growth by 10.7% in the past two years.
In addition, Hergenröther noted that the GACIC has been working for years on promoting Egyptian agricultural products and food commodities through several exhibitions.
He explained that Egyptian exports of oils and fats to Germany reached €33.6m last year, while exports of spices, tea, coffee, and cocoa registered €7.4m—up by 35% compared to 2015.
On the other hand, Egyptian fruit imports from Germany in 2016 reached €3.3m—marking a decline of 25% compared to 2015.
Egypt also imported from Germany oils and fats worth €24.6m, dairy products worth €32.3m, and grain worth €12.7m.
Daily News Egypt