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Tunisia, Germany sign MoU to boost economic exchanges

A memorandum of understanding was signed between the Tunisian employers’ organization (UTICA), the Foreign Investment Promotion Agency (FIPA), the Tunisian-German Chamber of Commerce and Industry (AHK Tunisia) and the German-African Business Association.


The MoU was signed during Tunisian President Moncef Marzouki’s recent visit to Berlin, Germany.


According Mr. Hichem Elloumi, Vice President of UTICA, the memorandum states the commitment of the four organizations to boost economic exchanges and increase German investments in Tunisia, particularly in the areas of renewable energy, green technologies, aerospace and automotive components, medical technology and electrical and electronic industries (EEI).


“Two meetings were held, also in Berlin and Munich on 21 and 22 March, between Tunisian and German business leaders in the presence of President of the Republic of Tunisia,” he told TAP, indicating that these meetings served to reassure German investors and businessmen on the re-establishment of stability and confidence in Tunisia.


German investments in Tunisia have made a quantum leap from 38 million Tunisian dinars (MTD) in 2011 to more than 100 MTD at the end of 2012, said Elloumi.


60% of these investments were oriented towards project extensions and the rest (40%) is for new business starts. 


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