The ministers of trade, international cooperation, electricity and transportation flew to China on Monday to meet with senior Chinese officials and prepare for the visit of President Abdel Fattah al-Sisi in the last week of December.
Minister of Industry, Trade and Small and Medium Enterprises Mounir Fakhry Abdel Nour said Sisi’s visit is of great importance as China is a strategic political and economic partner to Egypt.
He added said that Egypt and China are cooperating in several fields, most notably in new and renewable energy. “We will visit power plants of traditional and renewable sources of energy,” he said.
He also said that the Egyptian Embassy in Beijing is organizing an investment forum titled “Egypt's Investment Policy and Economic Conditions" where the Egyptian ministerial delegation is presenting to Chinese companies comprehensive government plans for economic reform, actions taken to create a favorable investment climate and investment projects that it has launched.
China is the first trade partner of Egypt with a bilateral trade volume of US$10.5 billion in 2013, including $1.6 billion in Egyptian exports and $8.9 billion in Chinese exports.
“China is investing $500 million in the Gulf of Suez Economic Zone,” Abdel Nour said.
Egyptian exports to China include cotton, linen, copper wire, copper scrap, citrus fruits and petroleum products, while China exports to Egypt textiles, garments, machinery, equipment and consumer goods.
