German Ambassador Julius Georg Luy praised the decisions taken by President Abdel Fattah Al-Sisi to adopt economic reforms، notably، the liberalization of the exchange rate.
The German Ambassador described those decisions as "courageous" pointing out to the need to continue these reforms until achieving the desired growth rate of 7 pct.
In a press conference held at the German Embassy in Cairo last night، the German ambassador to Cairo stressed the importance of supporting small and medium enterprises by providing an appropriate political climate، adopting legislations and providing the necessary funding as this sector will provide further job opportunities.
He said that the economic relations between the two countries have extended over decades. He added that the German support to Egypt amounted to about 1.6 billion euros (loans and grants) used in projects in the renewable energy and water as well as technical education domains.
The German ambassador added that the volume of trade exchange between the two countries amounted to six billion euros annually.
He added that economic policy decisions are purely Egyptian internal affairs، as this means that no country has the right to interfere.
He added that Germany offers advice and consultation on the structural reform، supporting small and medium enterprises، mixing the non-governmental sector into the formal economy and the tax reform in light of its long experience in those fields.
The ambassador called on the Egyptian government to work to create an attractive environment for investment.