ALEXANDRIA, Egypt, Sept 17 , 2018(MENA) - Minister of Transport Hisham Arafat said Monday that the Egyptian economy is now all the more ready to interact with the Chinese Belt and Road Initiative (BRI). He noted that there are several positive indicators in the Egyptian economy that encourage trade and attract investment and tourism movement to Egypt. Egypt now stands on a firm ground and has the potentials and sturdiness that makes it more capable of opening up for partnerships within the framework of the Belt and Road Initiative, he said. The minister's remarks came on Monday while addressing a forum on reviving the ancient Silk Road through implementing the BRI and exploring investment opportunities between the Arab countries and China. The forum is organised in the coastal city of Alexandria by the General Secretariat of the Arab League in co-operation with the Arab Academy for Science Technology and Maritime Transport (AASTMT). Egypt has achieved a lot in the past few years that helped it regain its stability, combat terrorism and activate and mobilise the ability of the state's institutions to contribute to rendering the national economic reform programme successful, Arafat said. He said that the relationship between Egypt and China witnessed an unprecedented strategic development within the past few years which positively reflected on the trade and investment sectors, noting that trade exchange rose 24 per cent on an annual basis in the first seven months of 2018 to hit $7.5 billion. Chinese exports to Egypt reached $6.5 billion while Egyptian exports to China reached $1 billion with a 60% increase from 2016, he said. Arafat said that he is looking forward to standing, during the forum, on the vision of the Chinese participants and the regional partners in the BRI regarding plans to establish the Belt and Road.
