Egyptian-Chinese ties entered new phase of economic cooperation

The Egyptian-Chinese ties entered a new phase of economic and commercial cooperation, affirmed Governor of China's Ningxia Autonomous Region Liu Hui. 

The Egyptian-Chinese ties are witnessing rapid development, as China became the biggest trade partner to Egypt, with a volume of trade exchange that passed 12 billion dollars in 2015, she added during the proceedings of China-Arab States Expo on Monday. 

China's Ningxia region has a strategic location in Silk road, Liu said, adding that the region is considered an important hub for trade and projects between the east and the west. 

Ningxia region also offers high-level services for the investors, she added, noting that it is also the premises for China-Arab States Expo. 

The Expo coincides with celebrations marking the 60th anniversary of establishing diplomatic ties between Egypt and China, said first undersecretary of Egypt's investment ministry Iva Sedik.

Sedik, meanwhile, pointed out to the visit of President Abdel Fattah El Sisi to Beijing in 2014 and 2015. 

President Sisi will also pay a visit to China in September to attend meetings of the G20 summit, after choosing Beijing as a guest of honor of this important event, she added. 

Sedik also noted that the number of Chinese companies operating in Egypt stand at 2,164, with total investments reaching about half billion dollars. 

Chinese Ambassador to Egypt Song Aiguo said that China-Arab States Expo aims to promote economic and trade cooperation with Egypt. 

He also referred to celebrations marking the 60th anniversary of establishing diplomatic ties between Egypt and China, which opened new aspects of Chinese ties with the Arab and African countries. 

The volume of trade exchange between Egypt and China reached 12.900 billion dollars in 2015 and the volume of direct investments hit about 6 billion dollars., noted the ambassador