Egyptian Minister of Trade and Industry Tarek Kabil has said on Tuesday that the strong bilateral relations between the two nations will promote China-Egypt investment cooperation and his country is seeking more Chinese investments in his country.
“Egypt is a good investment hub and we expect more Chinese investments in the near future,” Kabil told Xinhua.
His comments came during a reception event organized by the Chinese Embassy in Cairo to mark the 67th anniversary of the founding of the People’s Republic of China.
“Our ties are very strong… this should be used to increase Chinese projects in Egypt,” he said.
The minister stressed that Egypt is ready to facilitate investment procedures for Chinese firms willing to investment in his country, adding that the Egyptian economy is growing and promising for foreign investments.
In 2015, the volume of trade between China and Egypt increased by over 10 percent, and China has continuously been Egypt’s largest trade partner in recent years.
Meanwhile, Chinese Ambassador Song Aiguo said in a speech during the event that the friendship between China and Egypt is time-honored and the momentum for the bilateral cooperation is strong and robust.
The ambassador said that China’s initiative of Silk Road Economic Belt and 21st-Century Maritime Silk Road, being highly compatible to Egypt’s Suez Canal Axis development strategy and enjoying support from Egypt, serves as a perfect combination of traditional friendship and modern cooperation between the two countries and will definitely offer more space for cooperation.
“I am confident that the relationship between our two countries will certainly enjoy an even brighter future,” he said.