Finance Minister Mohamed Maait affirmed that Egyptian-Chinese relations enjoy strength in various fields, especially economic relations, which are witnessing a remarkable development between the two countries, especially as the Egyptian-Chinese relations have exceeded 64 years.
In statements to the Middle East News Agency, on the sidelines of the inauguration ceremony of the Egyptian-Chinese Businessmen Association on Sunday, Maait said that the volume of bilateral trade between Egypt and China amounted to $15 billion.
He pointed out that most of the structure of Egyptian exports to China is represented in agricultural crops, semi-finished industrial goods and engineering industries, while most of the Egyptian imports from China are in final products and industrial inputs. With regard to food products that China imports from Egypt meat and its products, dairy, fish products, fruits and oils.
Maait explained that during the first 8 months of last year 2021, the value of Egyptian imports from China recorded about $8.61 billion compared to 7.702 billion in the corresponding period of the year 2020. The most important Egyptian imports from China were distributed among machines and electrical appliances and their parts, machines and automatic devices and their parts, boilers, synthetic fibers, tractors and cars.
The Minister of Finance pointed out that the new expansions of the Chinese investment zone in the Suez Canal "TEDA" will cover an area of 6 km, with a total value of about $230 million to attract nearly 180 small projects in the expansions area.
He added that one of Egypt's plans to diversify the global financing markets it resorts to is currently working on issuing Chinese Panda bonds in the Chinese national currency, the yuan, at a value of half a billion dollars.
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