Germany: Improved security in Egypt revived tourism

The improved security situation in Egypt after years of turmoil and attacks by Islamic militants has contributed to the revival of tourism from Germany, Berlin’s Economy Minister, Brigitte Zypries, said.

Speaking during a joint press conference with Egyptian President, Abdel Fattah Al-Sisi, in Berlin, the minister said that “security alone does not promote a vibrant and flourishing society”.

“We believe that stability and growth must be connected with an open society, with open dialogue, with the rule of law and religious pluralism,” she added.

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The Egyptian economy has been suffering after years of political turmoil and violence since the overthrow of former President Hosni Mubarak in 2011.

Al-Sisi said Egypt was keen to encourage investment from Germany’s automotive parts, engineering and renewable energy sectors.

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Zypries said Germany was keen to work with Egypt on areas such as renewable energy and energy efficiency, and had offered export and investment guarantees to pave the way for more business deals.

The minister said annual trade between the two countries is worth €5.5 billion ($6.16 billion) and exports are likely to grow given Europe’s positive economic outlook.

Head of the German Chambers of Commerce and Industry, Eric Schweitzer told the commission that exports to Egypt have increased 50 per cent in the first quarter when compared to last year.