China trade with Egypt to reach $2 billion this year

Chinese ambassador in Cairo Wu Sike expressed his country's keenness on boosting relations with Egypt in all domains.

In his speech on the occasion of the 56th anniversary of the People's Republic of China foundation, Sike said cooperation between China and Egypt achieved good results in economic, political, trade, cultural and scientific fields in 2005.

The value of trade exchange between Egypt and China during January-July of the current fiscal year amounted to $1.116 billion, up by 28 % compared to the same period last year, he said, adding that such figure is expected to rise to $2 billion by the end of this year.

Chinese investments in Egypt are on the rise as the number of Chinese companies investing in Egypt amounted to 154 with investments of $ 200 million.