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Egypt، China volume trade exchange exceeds $10 bln

Wednesday 14/March/2018 - 05:44 PM
Sada El Balad
Hassanein Tayea
China's Ambassador to Cairo Song Aiguo said that the trade volume between Egypt and China exceeded $10 billion، stressing that the Chinese imports to Egypt have tripled in 2017.
During his speech in a briefing session held today Wednesday about the two annual rounds and Egyptian-Chinese relations، he added the Chinese Bank for Development، Export and Import and the Export Development Company offered a credit balance to Egypt exceeding a few billions.
He also praised the reform measures of the Egyptian economy، pointing out to the trade exchange in local currency between Egypt and china which surpassed $ 6 billion.
He pointed out to the mutual cooperation between Egypt and China in infrastructure projects، including the extension of electricity transmission lines and the electric train project in the 10th of Ramadan City.

The Chinese ambassador added that the electric train will link the 10th of Ramadan city and New Cairo with the New Administrative Capital.
allow easy mobility between the new administrative capital and the 10th of Ramadan City، noting that the Egyptian government plans to build 1.7 million square meters in the New Administrative Capital، in addition to Egyptian –chinese cooperation in the development of Suez Canal Zone with investments reach $100 billion.

Economic relations between Cairo and Beijing are deemed strong. The volume of trade exchanges between Egypt and China recorded $5.178 billion from January to June 2017.

Bilateral trade between Egypt and China is expected to grow further، as Egypt officially joined the 2015 the Silk Road Economic Belt trade union، which encompasses 92 Chinese and foreign associations.

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