CAIRO: The Chinese Ambassador to Cairo praised the two countries' relations and discussed expanding trade between Egypt and China at a Ramadan banquet organized by the embassy Sunday. "Egypt and China's commitment to equality and mutual support politically, socially and economically towards achieving bilateral strategic cooperation has made their relationship an example to follow for developing countries,” said Ambassador Sung Aicoh at the banquet, which celebrated the 55th anniversary of establishment of diplomatic relations between the two countries. Aicoh said that trade between Egypt and China reached a record-setting U.S. $7 billion (EGP 1.2 billion) in 2010, adding, "Despite difficult conditions experienced by Egypt during the first half of this year, bilateral trade increased by 25.5 percent. Egypt's exports to China increased by 112.7 percent, and Egypt became China's fifth largest [trade] partner in Africa." Chinese investments in Egypt amount to U.S. $350 million (EGP 58.7 million), according to the Ambassador, who hopes “to increase these investments with the help of Egyptians.”
