Egypt, China on the road to further trade
Bilateral cooperation between Egypt and China is reportedly expanding at leaps and bounds, according to Nomaan Galal, Egypt’s ambassador to China.
Recently, the two countries celebrated the 45th anniversary of the countries’ diplomatic exchanges. During the event, Galal stated that as both countries played major roles in their respective regions, increased cooperation between was not only desirable, but could also contribute to the maintenance of world peace and stability.
In recent years, political exchanges have also intensified, with President Hosni Mubarak so far having visited China seven times. All Chinese premiers and presidents have visited Egypt, as well.
Currently, petroleum is one of the chief components of Egyptian-Chinese trade, with rising oil demand in China resulting in a 200 percent boost in Egyptian export, from $34 million worth of oil exported in 1999 to $102 million during the year 2000.
Egypt also exports cosmetics merchandise and perfumes to China, while Chinese products entering Egypt include shoes, leather products, pencils, pens, toys and industrial and food products. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)