Egypt achieves record primary budget surplus of EGP 629bn despite sharp fall in Suez Canal revenues    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    After Putin summit, Trump says peace deal is best way to end Ukraine war    Jordan condemns Israeli PM remarks on 'Greater Israel'    Egypt's Supreme Energy Council reviews power supply plans for 14 industrial projects    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egyptian pound closes high vs. USD on Tuesday – CBE    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



3 Egyptian conditions for developmental projects to be implemented by China
Published in Daily News Egypt on 23 - 12 - 2014

President Abdel Fattah Al -Sisi has placed special focus during his visit to China to talk about infrastructure projects, according to Egyptian-Chinese Business Council (ECBC) member Sherif Al-Gably.
Al-Gably added that particular emphasis was placed on the pursuit of Egypt for investments in infrastructure, energy, railways and ports development. He added that a range of Chinese and Egyptian companies participated in a meeting on Tuesday.
"Al-Sisi put the most important Egyptian conditions and criteria in the projects to be implemented by China in Egypt, which is represented in three conditions: implantation at a reasonable cost, the least possible time and the best quality," added Al-Gably.
Al-Gably declared that the number of agreements will be decided on Wednesday, but could be over 20 investment agreement to serve development projects in Egypt.
"President Al-Sisi did not mention obstacles or hindrances on Egyptian exports to the Chinese market, because Egyptian exports to China are very small, but the focus is on how to take advantage of the tremendous technological power of China," revealed Al-Gably.
Economic expert and director of the Center for Economic Studies Salah Goda said Egypt is heading for China because of global trends leaning towards Chinese influence. He expects that at the beginning of 2025, China will be the foremost country in the world economically, followed by India, rather than the US.
Goda said Egypt has not taken advantage of its relationship with the US since the 1970s. He added that economic cooperation with the US has yet to produce great economic development.
He revealed that Chinese imports to Egypt are not less than $22bn, due to contraband passing through customs ports.
"China can help Egypt in several areas, especially in textile industry, where China has a comparative advantage in this area," said Goda.
The trade exchange between Egypt and China during the period between January and September 2014 reached approximately $8.5bn, an increase of 16% compared to 2013.
Chinese investments in Egypt this year amounted to approximately $468.5m, with the number of Chinese companies operating in Egypt listed at around 1,198.
These companies are concentrated mostly in the industrial sector and financing services, according to the General Authority for Investment and Free Zones (GAFI).
Egyptian exports to China amounted to $922m and Chinese exports to Egypt amounted to $7.6bn, bringing the balance of trade deficit between the two countries to $6.7bn.
Egyptian exports witnessed a marked decline during the first nine months of 2014 due to the decrease in petroleum exports prices by 46%. This was in addition to the decline in non-oil exports by 22%. Egyptian imports from China have achieved a significant increase during this period, having recorded about $7.6bn, an increase of 31% compared to the same period last year.
The main Egyptian exports to China are petroleum products, marble, granite, iron ore and citrus, while the main Chinese exports to Egypt include garments, mobile phones and other products.


Clic here to read the story from its source.