Egypt-China trade volume reaches $900 million
Trade volume between China and Egypt stands at approximately $900 million, according the official Egyptian state information service. Of the total figure, Egyptian exports to China stand at 11 percent, reaching $100 million annually.
These latest statistics were revealed at a recent meeting in Cairo between Egypt’s Minister of Planning and International Cooperation Ahmad Al-Darsh and China’s Ambassador to Egypt. The Chinese diplomat expressed hope that in light of reform policies being implemented by both countries, commercial exchanges between the two would increase.
Egypt’s ambassador to China, Numaan Galal, announced earlier this month that exchanges between Egypt and China were rapidly expanding. He added that that since both nations were regional leaders, it was crucial for world stability that relations between them remain positive.
Rising oil demand in China has increased Egyptian oil imports by some 200 percent in recent years. Petroleum is one of the main commodities, which Egypt exports to China. Last year, oil exports totaled $102 million, up from a mere $34 million the previous year. The two countries recently celebrated the 45th anniversary of diplomatic exchanges. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)