Minister of Trade and Industry Amr Nassar revealed on Sunday that Egypt’s exports to China rose by 60%, explaining that they rose to $408m in 2017, up from $255m in 2016.
Nassar stated during his meeting with Chinese Ambassador to Egypt Song Aiguo that the trade relations between Egypt and China have witnessed great development recently.
According to the State Information Service (SIS), China ranked 10th among the most important markets for Egyptian exports, while China is the third largest supplier of goods to Egypt. The volume of trade exchange between the two countries in 2016 reached $11bn.
“Egypt’s exports to China are concentrated in construction materials, chemicals, fertilisers, and leather,” the SIS stated.
The minister assured that the government seeks to transform Egypt into a commercial and logistical hub as an access point for Chinese products to enter the continents of Africa and Europe.
During the meeting, Nassar discussed with the ambassador the future of economic cooperation between the two countries and the means of enhancing Egyptian-Chinese economic relations in all fields, especially in the fields of trade and industry.
On a separate note, the minister stressed Egypt’s keenness to participate in the China International Import Expo, which is scheduled to be held in November in Shanghai, China and will be attended by 100 countries from around the world.
Moreover, the minister continued that a large number of Egyptian companies will attend this important event, as it is a great opportunity to increase Egyptian exports to China, especially after the Chinese government’s decision to make Egypt the guest of honour at the expo.
It is noteworthy that the total Chinese investment in Egypt reached $600m in 2017, according to the SIS.