Delegation of Chinese textile firms discuss investment in Egypt

Trade and Industry Minister Tarek Kabil has met with  a delegation of the China National Textile and Apparel Council (CNTAC) grouping representatives of 50 Chinese companies.

The meeting took up potential investments in the Egyptian textile market and the policies adopted by the government as well as the incentives it offers to develop this vital sector and lure more foreign investments.

Kabil stressed the importance of pushing Egypt-China economic ties to unprecedented levels and maximizing the benefits of the comprehensive strategic partnership between Cairo and Beijing.

He further pointed out to the keenness of both countries on translating their unique political ties to joint commercial, investment and industrial projects.

The recent period has witnessed a significant boost in bilateral political relations which was reflected by the exchanged visits between President Abdel Fattah El Sisi and his Chinese counterpart Xi Jinping, the minister said in a statement issued on Monday.

These top level visits aimed at moving bilateral relations to a higher level to serve mutual political and economic interests, he also said.