Visa, Egypt's sports ministry, UNICEF Kick off Player Escort Program for AFCON 2019    UN Women praises Egypt's government decision to develop national action plan on women peace and security    South Korean film Parasite wins Palme d'Or; Banderas Best Actor, Special Mention for Elia Suleiman's fiction    Europeans vote, with EU future in balance    UK must leave EU on Oct. 31 even without a deal: PM candidate McVey    Valverde vows to carry on as Barca's season fizzles out    Valencia beat Barcelona 2-1 to win the Copa del Rey    Welcome to e-Ramadan    Egypt's Illicit Gains Authority unfreezes assets of Mubarak-era interior minister, key aide    Solar energy and the future    All credit to Egyptian women    The ‘Deal of the Century' is not the end    In search of historical women    Why the dollar went south    Suez Canal Authority head hails role of simulation centre in training his staff    Kenya's high court unanimously upholds ban on gay sex    SODIC to pay EGP 1.2bn of outstanding land dues in 2019    Fanzir plans to launch 3 projects, open HQ in Egypt: Aljishi    Tazkarty, online booking for AFCON tickets launched    Egypt saves $350m by improving energy efficiency: Petroleum Ministry    US warns Al-Assad following suspected chemical attack    Huawei sales will not be affected by Google's suspension of business: MTI    Four women challenge male-dominated food market in Ramadan    Lack of proper waste management in Egypt causes accumulation of marine plastic litter    Aiisha Ramadan & SADAFA Collaborate for SS'19 Arab Fashion Week    Shoukry, Sadadi convene in Cairo over regional updates    Banking draft law will not impose term limits on state-owned banks' board members: source    12 alleged militants killed in two separate raids in Al-Arish    Repatriation: Why Western museums should return African artefacts    Omani author Jokha Alharthi wins prestigious Booker International Prize    Al-Karma to publish Tawfik's last short story collection in June    Breaking the record    Amending judicial regulations    Pre-emptive strikes    Mubarak speaks    Newsreel    Connected for exams    Egypt name national team's initial squad for AFCON 2019    General Prosecutor orders release of five prominent detainees    Mascot revealed, tickets on sale    Only one path to glory    Messages to Tehran    Don't miss Al-Leila Al-Kebira puppet theatre operetta at Al-Hanager Arts Centre    In search of historical women    Twelve alleged militants killed in shootout with police    Malawians vote in tough presidential election    Angry at being dubbed a hustler, Maradona dismisses new film    The alternative economy in Ramadan    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Volume of trade exchange between Egypt, China jumped to USD 13.8 bn in 2018
Published in Ahram Online on 22 - 04 - 2019

Economic and Commercial Counselor of the Chinese Embassy in Cairo Han Ping on Monday said the volume of trade exchange between Egypt and China jumped to USD 13.87 billion in 2018, compared to USD 10.8 billion in 2017.
Interviewed by MENA, Han added that Egypt's exports to China increased last year to hit USD 1.8 billion.
He promised that the next three years will witness further cooperation between the two countries, lauding the current economic development in Egypt.
Asked about Chinese investments in Egypt, Han asserted that his country had pumped investments worth USD 7 billion in 2018. Those investments are distributed in several infrastructure and energy projects, he said.
The second Belt and Road Forum for International Cooperation, slated for April 25 to 27 in Beijing, will see the participation of President Abdel Fattah El Sisi and around 40 world leaders, as well as representatives from 100 countries, the commercial counselor noted.
Trade Minister Amr Nassar, Investment Minister Sahar Nasr and Chairman of the Suez Canal Economic Zone (SCZone) Mohab Mamish, along with 300 Egyptian businessmen, will take part in the forum's events, the Chinese official said.
The forum is aimed at providing an opportunity for participants to put forward their proposals and visions on how to achieve better and constructive cooperation among world countries, he added.
Some 12 ministerial sub-forums are due to be held on the sidelines of the second forum to exchange views on policies, infrastructure, trade facilitation and cooperation in the fields of education, culture, free zones, innovation, the Silk Road, and research institutions, Han said.
Among the achievements of the Belt and Road Initiative was the establishment of a large railway network linking China with some Asian and European countries, as well as the corridor project in Pakistan and the Piraeus port project in Greece, he said.
The volume of foreign direct investments between China and the Belt and Road countries exceeded USD 70 billion, while bilateral trade between China and these countries surpassed USD 5 trillion, he noted.
He went on to say that the forum is expected to witness the signing of an agreement with the Suez Canal Authority to develop the China-Egypt Suez Economic and Trade Cooperation Zone (TEDA) in Ain Sukhna area, besides an agreement to set up the 10th workshop in Africa. It will be based in Egypt and is going to be a vocational training workshop for excellent specialists in the field of furniture.
He noted that Chinese companies are investing in the central businesses area of the New Administrative Capital, citing the allocation of USD three billion for this purpose.
Discussions are underway between Egypt and China to construct several zones, including a zone for light industries and a leather area, he concluded.

Clic here to read the story from its source.