Egypt seeks to become a regional hub for the Chinese investments

The Egyptian government is seeking to turn Egypt into a regional hub for the Chinese investments, Minister Trade and Industry Amr Nassar said.

Nassar added that the exchange of presidential visits between the leaders of Egypt and China is a proof of strong bilateral relations.

In December 2014, President Abdel Fatah al Sisi made his first visit to China, Nassar said, noting that this served as a milestone in developing the relations to a comprehensive strategic partnership.

Nassar is currently accompanying Sisi on his visit to China to attend the Forum on China-Africa Cooperation (FOCAC) summit.

Minister Nassar said the ministry pays big attention to enhancing ties with China, noting that trade cooperation and industrial investments are the pillars of the relationship between Cairo and Beijing.

He expected an increase in the flow of Chinese investments to Egypt’s industrial sector in the coming stage, particularly where the automotive and textile industries are concerned.

Egypt and China signed agreements to implement 11 projects in the fields of industrial investment, electricity, transport, construction and infrastructure, Nassar made it clear.

A number of memorandums of understanding were also inked with the aim to boost investment cooperation between the two countries, he added.

Nassar said his ministry will be working to reduce the trade deficit between Egypt and China in the coming stage.