China agrees to participate in Egyptian free zone, exports to US up 15 percent

The Chinese government agreed yesterday on Egypt's participation in establishing a free trade zone west of Suez city.

This approval came officially for the first time after six months of technical and financial studies for this project.

Maher Abaza, the Egyptian minister of electricity and chairman of the ministerial committee organized to implement the free trade zone, announced during his communication with Egypt's ambassador in Peking that the Chinese approval is considered a good indicator of the success of the free zone, and he said that the Chinese government will send private companies and businessmen to Egypt to agree with Egypt on the industrial projects that will be undertaken in the area.

Meanwhile, Ahmed Goweili, Egyptian minister of trade and supply, said that Egyptian exports achieved a jump of 15% inside American markets during the first six months of the current year compared to the same period last year, reaching $333.7 million during this period.