Egypt, China seek to redress trade imbalance
Egypt-China, Economics, 6/26/2000

Egypt and China yesterday concluded talks that aimed at ending deficit in the two countries' balance of trade. Egyptian President Hosni Mubarak received China's Minister of Foreign Trade and International Cooperation Che Giang Chang at the end of his visit to Cairo.

The Chinese official, who led a team of businessmen and senior officials, also held talks with his Egyptian counterpart on enhancing the two countries' cooperation in industry, agriculture and the peaceful use of nuclear power.

Following his meeting with President Mubarak, the Chinese Minister said discussions had tackled a report on the outcome of meetings of Egyptian-Chinese Committee convened in Cairo earlier.

The Committee, he continued, focused on balancing the trade exchange between the two countries and joint cooperation in the new industrial zone in the Gulf of Suez.

He added that Beijing was ready to give all necessary assistance and experience to Egypt to set up and operate the zone. He added that China also agreed to ease procedures and open its market for Egyptian citrus exports.

He described the Committee meetings as "very successful", adding that he had good talks with Prime Minister, Dr. Atef Ebeid and Ministers of Foreign Affairs, Foreign Trade and Planning.

On his part, Economy and Foreign Trade Minister Youssef Boutros Ghali said that the Egyptian imports from China were between 700 800 million dollars every year. "Our exports are much less," he told reporters.

He added that during the Chinese team's visit to Cairo, the two parties agreed to export to China iron steel bars and other building materials, adding that China was the world's largest consumer of Egyptian marble. "A Chinese company is mulling a joint project to introduce new technologies in marble quarries.

He added that the Chinese team had visited the site of the new industrial zone in the Gulf of Suez, which is built and operated in cooperation with China.

Previous Stories:
  Chinese minister in Egypt: Trade with Israel has not effected on trade with Arabs   (6/22/2000)
  392 million dollars are Egypt's exports to Iraq   (6/12/2000)
  600 million dollars is volume of the Egyptian - Chinese trade   (5/12/2000)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search