Sino-Egyptian Trade Enjoys Good Prospects

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Last updated at: (Beijing Time) Thursday, December 19, 2002

Sino-Egyptian Trade Enjoys Good Prospects

The Sino-Egyptian trade ties will grow stronger and stronger in the years ahead thanks to joint efforts, Chinese Ambassador to Egypt Liu Xiaoming said Wednesday in Cairo.

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The Sino-Egyptian trade ties will grow stronger and stronger in the years ahead thanks to joint efforts, Chinese Ambassador to Egypt Liu Xiaoming said Wednesday in Cairo.

Speaking at a gathering on promoting Sino-Egyptian trade cooperation, Liu said "with China's rapid economic growth, China's demand for such products as oil, cotton, marble and aluminium that Egypt produces will be increasing.".

"At the same time, China could provide Egyptian customers with mechanical and electronic products and light industry products which are of good quality but at relatively low prices," he added.

The Chinese ambassador noted that a Chinese trade delegation will visit Egypt later this month to purchase Egyptian products, referring to a sharp increase of Egyptian exports to China this year.

According to Chinese customs statistics, bilateral trade volume between China and Egypt reached record 950 million US dollars last year.

A total of 67 Chinese enterprises have had investments in Egypt by the end of Jun. 2002, with a contracted investment of nearly 260 million dollars.

During the gathering, more than 120 Chinese businessmen had one-on-one meetings with their Egyptian counterparts to find ways of cooperation.

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