Egypt probes former officials’ German assets

The Egyptian Embassy in Germany is working with German officials to identify the assets of 140 people affiliated with former President Hosni Mubarak's administration, Ambassador Ramzi Ezz Eddin said.

The Egyptian government has submitted 14 requests to the German Finance and Foreign Affairs ministries, asking them to freeze the assets, the ambassador told reporters in Berlin.

Since Mubarak resigned on 11 February, Egypt has asked several countries to freeze and reveal the values of assets owned by former regime officials, as well as Mubarak's family members and businessmen.

Ezz Eddin stressed Germany's optimism about Egypt's political and economic future following the uprising.

However, he said he was dissatisfied with the amount of economic ties between the two countries. He said a conference will be held within a month in Berlin to discuss prospects for joint investments.

Egyptian exports to Germany do not exceed 330 million euros, despite Germany's potential for investment as the world's third economic power, Ezz Eddin said.

The ambassador called for eliminating hurdles to investments between both countries and urging businessmen to reach out to Germany’s promising market.

Translated from the Arabic Edition

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