The Federation of Egyptian Chambers of Commerce (FEDCOC) has signed an agreement with the Association of German Chambers of Commerce and Industry (DIHK) to boost bilateral cooperation.

The deal was sealed on the fringe of a visit by a FEDCOC delegation to Germany meant to attract investments, increase the volume of trade exchange and restore the flow of tourism to Egypt. 

The delegation is also in Germany to post officials on the latest economic developments in Egypt in light of a loan agreement recently reached with the International Monetary Fund (IMF).

The deal FEDCOC signed includes mechanisms to increase trade exchange and joint investments, said FEDCOC Chairman Ahmed el Wekil in a statement Wednesday. 

Under the agreement, the DIHK will also share its know-how in technology and advanced management with FEDCOC, Wekil added.

It has also been agreed that the DIHK organize visits by delegations of transport and logistics companies to Egypt to get firsthand information about investment opportunities at the Suez Canal Corridor