Egypt seeks to increase its exports of agriculture crops to the Chinese market to overturn the trade deficit with China, Egyptian Industry Minister Tarek Qabil said on Monday.
Trade exchange between Cairo and China registered $9.698 billion in 2016, including imports of $9.227 billion and exports of $471.053 million. This signals a trade deficit amounting to $8.756 billion in favour of China.
Several Chinese purchase delegations should visit Egypt in order to sign contracts for new export deals, Qabil stated during a meeting with China’s vice Minister of Commerce Qian Keming in Bejing on the sidelines of the Belt and Road Summit.
The Egyptian minister further stressed the importance of receiving more Chinese investments to Egypt in the coming period.
On his part, Minister Keming referred that establishing the second phase of the Northwest Gulf of Suez economic zone would encourage more future Chinese firms to invest in Egypt.