The 30th of January is an important day for Egyptian economy. President Mursi is accompained by the Minister of Industry and Foreign Trade H.E. Hatem Saleh as well as a high ranking business delegation. For Egyptian economy, Germany makes the third largest trading- and most important business partner in Europe. More than 50 Egyptian businessmen travel with Mursi to use matchmakings with their German counterparts in order to initiate new contacts and trade opportunities.
Germany has a social market economy with a highly qualified labour force, a large capital stock, a low level of corruption, and a high level of innovation. It has the largest national economy in Europe and the fourth largest by nominal GDP in the world. The service sector contributes approximately 71% to the total GDP, industry 28%, and agriculture 0.9%. Most of the country's exports are in engineering, especially machinery, automobiles, chemical goods and metals. Germany is a leading producer of wind turbines and solar-power technology. Major annual international trade fairs and congresses are held in Hanover, Frankfurt, and Berlin. While Germany has the technology, Egypt still has the space and capacity for economic investment. In this context Mr. Paul van Sohn, CEO of the Desertec Industry Initiative officially anounced that a new agreement will be signed with the Egyptian New and Renewable Energy Authority-NREA along President Mursis visit to Berlin. Egypt as most populous arab country has high potential for strong economic gowth. Its capability to become a major producer and exporter for solar electricity to Europe remains of high importance.
President Mursis first visit to Berlin markes an important step for European Union – Egyptian relations that need to be extended for the future.