EGYPT – Egypt and Germany have inked a grant agreement worth EGP 36 million (US$2.2m) in the framework of an agricultural quality control project.
The project will help improve the regulatory system of quality control for agricultural products, with the aim to establish a platform for experts, dedicated to agricultural quality control in terms of grown food.
The agreement aims at improving the quality of agricultural products and setting up a platform for dialogue between the two countries’ experts in regards to agricultural production as part of the bilateral cooperation between the Egyptian Ministry of Agriculture and the German Ministry of Food and Agriculture.
The agreement was signed by Egypt’s Minister of Investment Sahar Nasr and the German Ambassador in Cairo Cyrill Nunn, in the presence of Mona Mehrez, deputy minister of Agriculture on Livestock, Fish and Poultry.
Mona Mehrez stated that around 25 million Egyptians working in the agriculture sector will benefit from the deal.
According to Nasr, the agreement will help boost the agricultural production sector and achieve food security.
The minister called on the German companies to pump more investments into the Egyptian market, noting that German investments in Egypt are estimated at 7.4 billion dollars.
There are 1,215 German companies operating in Egypt in the domains of petroleum, iron and steel, gas, communications, car manufacturing, chemicals and car components.
She lauded the size of cooperation between Egypt and Germany which now stands at two billion euros.
The German diplomat lauded economic reforms in Egypt, saying the Egyptian economy is progressing and this is clearly reflected in the growing trade volume between the two countries.
He asserted that the investment climate in Egypt will encourage German companies to increase their contribution in Egypt.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
