CAIRO: Egypt's official MENA news agency reported that the volume of trade between China and Egypt jumped during January and February this year by 59 percent to more than $1 billion, compared to the same period in 2009. A report published by the Chinese Ministry of Commerce on Saturday on its website explained that the volume of trade exchange between Egypt and China amounted to “about $1,071 million during January and February, up 59 percent compared to about $674 million in the same period in 2009 … as the value of Egyptian exports to China in this period reached $92 million, up from 2009, which amounted to $22 million dollars.” Non-petroleum exports to China increased to $54 million, an increase of 5.15 percent from the previous year, the report stated. The most important Egyptian exports to the Chinese market in January and February were still crude oil and liquefied natural gas in addition to marble and polyethylene, cotton and copper and its by-products polypropylene and anhydrous ammonia, waste plastic, tanned leather and linen and carpets. The value of Egyptian imports from China amounted to $979 million an increase of nearly 50 percent. The most important Egyptian imports from China were in machinery, equipment and garments as well as means of transport, spare parts, metal products, chemicals and synthetic fibers, plastics and rubber and glass products. Egypt and China have recently signed a number of trade deals in order to bolster their cooperation and experts on both sides believe this trend will continue for years to come. China sees Egypt as a gateway into the African continent and hopes that the relationship will continue to help buttress these aims, an economic advisor at the Chinese Embassy in Cairo said. “We believe that this is a good sign of the progress that both countries are making and we believe that China is to be a strong trade partner with Egypt this year and in the coming years,” the official said. BM
