New Egypt's gas field important for economy industry

German Legislator Peter Ramsauer Tuesday asserted the importance of the new discovery of Zohr natural gas in reviving Egypt's economy and industry.

Speaking to MENA, Ramsauer, who also acts as head of the parliament’s economic committee and member of the governing Christian Democratic party, said the Zohr natural gas field will meet Egypt's needs of energy for coming generations.

Asked about his next visit to Egypt, the German official said he will visit Egypt leading an economic delegation comprising 40 German companies of different fields to discuss signing a raft of cooperation agreements with Egypt.

Germany looks forward to fostering bilateral economic cooperation within the framework of the recent stable conditions in Egypt, he added.

He hailed the strong German-Egyptian cooperation in the economic and political domains.

With regard to President Abdel Fattah El Sisi's visit to Germany in June, the German member of Parliament said the visit was fruitful in furthering bilateral cooperation as they concluded a number of cooperation agreements worth billions of dollars.

Asked about the recent political and democratic reforms, Ramsauer said that Germany welcomes these reforms that will help kick start the Egyptian economy and attract more foreign investments

Source: MENA