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Chinese investments up to $40 million
Egypt-China, Economics, 12/27/1999
In exclusive statements to "Al-Ahram" newspaper, Egypt's Ambassador to China D. Noaman Galal said that President Mubarak's last visit to China triggered a great leap in the relations binding the two countries.
He stressed the Egyptian government's keenness on promoting bilateral cooperation and coordination on the political, diplomatic and economic levels.
He added that trade links and investment vistas will be widened, referring to the north west of the Suez Gulf project. He said that an Egyptian-Chinese company was established for the promotion of investment projects so as to increase the flow of Chinese investments expected to amount to one billion US dollars.
The Ambassador said that a Chinese delegation is to visit Egypt next February to conduct the feasibility of several tourist and agricultural projects to be implemented in Al-Fayyoum governorate.
He expounded that the volume of trade exchange does not exceed $600 million and that Egyptian exports to China are expected to reach $40 million by the end of 1999 as compared to $32 million in 1998.
He said that preparations are now underway jointly with the Chinese embassy for the prospective meetings of the joint Egyptian-Chinese trade and economic committee, adding that the Chinese President is expected to visit Egypt in 2001.
The Ambassador further added that China calls for convening a Chinese-African foreign ministers conference in October 2000 to discuss the prospect of Chinese-African relations, highlighting that the Chinese President called upon Mubarak for the participation of two Egyptian ministers in the conference due to be held in Beijing.
Previous Stories:
Chinese economic delegation visits Egypt today
(8/20/1999)
Cairo: Training citizens on producing natural silk
(7/2/1999)
Chinese economic delegation visits Cairo
(7/1/1999)
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