ICEC

Trade minister showcases China’s future projects in Egypt

Egyptian Trade Minister Tarek Qabil held an expanded meeting on Sunday to showcase projects that would be implemented in cooperation with China.

The meeting encompassed representatives of foreign affairs, international cooperation, transport, electricity, communications, military production, investments, housing, oil ministries as well as General Authority for the Suez Canal Economic Zone (SCZone).

The minister stated that the set-to-be-established projects target upgrading provided services in a number of villages and cities all over Egypt, creating massive number of job opportunities, and boosting economic growth rates.

Qabil added that the government’s commitment to support all investment projects through improving business climate made foreign investors trust the Egyptian market and invest in it.

Minister Qabil noted that those projects reflect the political and economic relations between Egypt and China which are currently being deepened as pursuant to mutual visits of Egyptian and Chinese leaders.

The projects also emphasise on the keenness of Egyptian and Chinese  governments on enhancing joint economic cooperation between two states.

This meeting comes among the preparations for President Abdel Fattah al-Sisi’s visit to China in the beginning of October 2016 to take part in G20 summit in which Egypt would participate as Guest of Honour.

Qabil clarified that the meeting discussed current negotiations with the Chinese side on financial and technical offers of each project.

He pointed out that both Egyptian and Chinese sides are about to agree on a date to start executing some projects.

Minister Qabil said that a number of meetings had been held within the last period to showcase and revise Egyptian-Chinese joint projects that are set to be implemented within the coming period.

Moreover, the minister clarified that those projects would be executed through direct investments or by facilitated loans from the Chinese side.

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