Egypt, China cooperate in manufacturing building materials, gas, petrochemicals
Egypt-China, Economics, 5/25/2004

Prime Minister Dr. Atef Ebeid held on Monday talks with the visiting Chinese trade and economic delegation led by Deputy Trade Minister Wu Jan Ju.

Minister of State for Foreign Affairs Fayza Abul Naga, who attended the talks, said Ebeid welcomed upping the Chinese investments in the exclusive economic zone northwest of Gulf of Suez. She added that the two sides agreed that China would offer a $10 million to Egypt to set up a One-Stop-Shop (OSS) building serving investors in the northwest of Gulf of Suez.

Abul Naga said that the two sides discussed cooperation in the building materials, petrochemicals, natural gas, communications ad agricultural crops.

The Chinese official said that his country is keen on backing trade cooperation with Egypt, encouraging Chinese companies to increase investments and training Egyptian technicians. He said that the volume of Egyptian exports of marble to China reached $100 million over the past period, adding that the Chinese government encourages the increase of Egyptian exports.

He added that the coming period will witness an increase of Chinese investments in Egypt and the establishment of joint companies to meet Egypt's market needs.

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