Egypt and China signed Tuesday a framework agreement on executive steps of establishing a zone for textile industries in Egyptian governorate Minya.
The agreement was signed between Egyptian Textile Industries Council and China National Textile and Apparel Council (CNTAC).
Qabil asserted that establishing a comprehensive zone for textiles is an important step for Egypt to get its leading position in Middle East and North Africa back since it owns potentials and wide expertise in weaving and textile field.
The minister made these remarks during his meeting with a delegation of Chinese businessmen headed by CNTAC’s Vice-President, Gao Yong. During the meeting, the Chinese mission and Qabil showcased means of enhancing bilateral cooperation between Egypt and China in textile field as well as future visions for such important industry in Egypt.
Building the new zone is set to participate directly in achieving strategy of trade ministry to develop textile industry in Egypt besides enhancing the process of economic and social development by attracting more local and foreign investments.
Minister Qabil added that the ministry agreed with Minya governor to allocate around 1.2 million square meters to establish the zone.
He noted that the Egyptian government is paying a great attention for this large project and committed to support it.
Textile industries contribute 3 percent to Egypt’s GDP and accommodate around 1.2 million workers and engineers, i.e. 30 percent of industrial labour in Egypt, the minister said, clarifying that textile industries seize 16 percent of Egypt’s non-petroleum exports with US$2.6 billion.
On other side, Yong stated that the visit of the Chinese mission to Egypt targets boosting mutual cooperation between two countries in textiles field as Chinese firms keen on expanding its works. Hence, Chinese investments in Egypt’s textile market are expected to increase.