Germany keen on continued cooperation with Egypt: Merkel tells Sisi

Germany is keen on continuing to boost economic relations with Egypt, German Chancellor Angela Merkel told Egyptian President Abdel-Fattah El-Sisi in a phone call on Wednesday, according to statement by the presidency.

El-Sisi congratulated Merkel for winning her fourth term as Chancellor in September.

Merkel stressed the importance of continued coordination and intensive dialogue between the two countries on a number of regional issues.

The two leaders also discussed strengthening relations and keeping an open line of communication on issues that would contribute to achieving security and stability in the Middle East.

Germany and Egypt have been boosting economic and political ties over the past few years, with Egypt repeatedly stressing its appreciation for Germany’s support on economic and security issues, including irregular migration.

In 2015, German company Siemens signed an 8 billion euro ($9.05 billion) deal with Egypt to build gas and wind power plants in the country.

Germany has also started supplying Egypt with submarines, delivering a submarine built by ThyssenKrupp Marine Systems in 2016 and another in 2017.

Bilateral trade reached to approximately 5.6 billion euros in 2016, a 10 percent rise from 2015.

German investment in Egypt this year stands at nearly $620 million.

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