CAIRO, Sept 19 , 2018 - Minister of Trade and Industry Amr Nassar met the Head of the Egyptian-French Business Council, Fouad Younes, with whom he discussed ways the council could be effective in boosting economic relations between Egypt and France. In a statement released by the ministry on Wednsday, Nassar said that the council was focusing on two main factors: Attracting French investments to Egypt and boosting Egyptian exports to French markets. French investments here stand at about four billion Euros in 150 projects. Nassar spoke of benefiting to the maximum from the council. This was especially important, he said, as Egypt represents one of the European Union's most important trading partners. He referred to the role of the council in supporting the flow of trade, and encouraging the French private sector to carry out new investment projects in Egypt. The minister also said that discussions were taking place to prepare for Egyptian fashion week in 2020 so as to be one of the most significant international fashion weeks in the world. This, he said, would contribute to promoting Egyptian trademarks. The government aimed at restoring Egypt's international position in the field of textiles and ready-made garments through upgrading the designs as well as the textile and clothing industry, Nassar said. He added that upgrading the design and fashion industry in Egypt was of paramount importance because it contributes to putting Egypt on the map of the international fashion weeks which are held annually in major cities around the world. In another development, Minister of Investment and International Co-operation Sahar Nasr on Wednsday asserted Egypt's keenness on boosting economic co-operation with Germany and increasing German investments in the light of the strategic relations between the two countries. "Egypt wants Germany to be one of the top countries investing in Egypt," Nasr said during her meeting with the Director-General of the German Federal Ministry for Economic Co-operation and Development Claudia Warning and the Head of Development Co-operation with the Middle East, Klaus Kramer. Germany, Nasr said, is now in the 20th position in terms of countries investing in Egypt with investments worth $641.4 million having 1,103 companies investing in chemicals, petroleum, communications, gas, cars and steel sectors. "The ministry is supporting private sector investment. Therefore, legislative reforms have been made to facilitate measures for investors, including the investment law, its executive statute and modifications to the corporate and money market laws," Nasr said.
