EGX ends in red on August 20    Egyptian pound weakens against US dollar on August 20    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    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    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 warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    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.



$11bn Chinese investments into SCZone: head of Maritime Transport Sector
Bilateral trade between China, Egypt stands at $2bn in 2018, says transport minister
Mohamed Samir Published in Daily News Egypt on 19 - 09 - 2018

The Head of the Maritime Transport Sector Rida Ahmed Ismaeil, said on Monday, that the $11bn of Chinese investments are injected in the Suez Canal Economic Zone (SCZone), as the Suez Canal is the gateway to the New Silk Road.
He added, that the Belt and Road Initiative between China and Africa targeted investments $700bn.
Ismaeil statement came during Impact of the Silk Road and Investment Opportunities between Arab Countries and China conference, organised by the Arab Academy for Science, Technology, and Maritime Transport (AASTMT).
Moreover, Minister of Transportation Hesham Arafat said that China, Arab countries, and Italy are Egypt's main partners, adding that the volume of bilateral trade between China and Egypt is about $2bn in 2018, and that China's direct investments with Egypt amounted to $106m, marking an increase of 755 compared to last year.
"Belt and Road Initiative represents 60% of the world area," Arafat explained.
Ismail Abdel Ghafar Ismail President of the AASTMT, said that the initiative will promote a strategic partnership between China, and Arab countries. As it will contribute to better trade relations, and establishing infrastructure.
On the other hand, Ahmed El Wakil, vice chairperson of the Union of Mediterranean Chambers of Commerce and Industry (ASCAME), said that 26% of the world's trade goes through Egypt.
“The volume of trade between China and the countries of the Belt and Road Initiative from the Arab countries amounts to about $5tn, and the volume of investments between them stands at $80bn,” he said.

Clic here to read the story from its source.