Abul-Naga: Egyptian-Chinese economic trade ties promoted

Egypt and China are set to work together in order to boost economic, investment, trade and tourist ties in the forthcoming economic periods.

This was announced on Monday after a meeting held by the Minister of International Cooperation, Fayza Abul -Naga, and the Chinese Deputy Minister of Commerce.

During the talks, the Egyptian and Chinese officials signed an economic agreement which included a Chinese grant of about US$1.25 million. The money will be used to finance training programs for people working in investment, trade, economy, and import-export controls.

Minister Abul- Naga noted that the Chinese Minister expected Chinese tourists visiting Egypt to reach 100,000 by the end of the year.

Related to this, she mentioned that the Minister of Foreign Trade and Industry, Rasheed Mohamed Rasheed, and the Minister of Tourism, Ahmed el-Maghrabi, would visit China this month.

Talks also dealt with Chinese projects currently underway in Egypt. These included the construction of a US$12.5 million textile factory in the northwest Suez Gulf economic zone which would provide 900 job-opportunities, noted Abul Naga.

Furthermore, the two sides addressed three-way cooperation between Egypt, China and other African countries, Abul -Naga stated.

She added that China discussed the possibility of creating a Chinese-African chamber of commerce with the intention of boosting cooperation with Africa.