Minister says Egypt-China economic cooperation promising

CAIRO -- Economic cooperation between Egypt and China is "very promising and would be broadened in the near future," an Egyptian minister said.

Egypt and China have special, strong historical ties, and China has always been supporting Egypt at both political and economic levels, said Egyptian Trade and Industry Minister Tarek Kabil during a recent interview with Xinhua.

"Egypt and China are willing to expand the ongoing mutual cooperation levels, the economic one in particular," Kabil added.

Kabil made the remarks ahead of Egyptian President Abdel-Fattah al-Sisi's upcoming trip to China.

At the invitation of Chinese President Xi Jinping, the Egyptian president will soon fly to the southeastern Chinese city of Xiamen to attend the ninth BRICS summit scheduled for Sept 3-5.

Kabil, a member of the Sisi-led high-profile delegation, said Egypt has undertaken bold and serious economic reforms and Chinese investments in Egypt could expand.

Egypt, the most populous Arab country with a population of about 100 million, would be a large market for Chinese industries.

"Egypt is a member of many free trade agreements with the European Union, the Common Market for Eastern and Southern Africa (COMESA), Mercosur bloc and others, which would make Chinese industries accessible to 1.8 billion people," the Egyptian minister said.

During his visit to China, the Egyptian minister will meet with his Chinese counterpart and businessmen to discuss major projects between the two countries, including the renewal of electricity networks and the adoption of electric trains in Egypt.

The minister will also represent Sisi at the China-Arab States Expo scheduled for Sept 6-9 in the northeastern Chinese city of Yinchuan.

Kabil said that during the expo, the two countries would sign a few investment deals concerning the fields of chemicals, textile and construction materials in Egypt.

Egypt's total trade with the BRICS countries reached 20 billion U.S. dollars in 2016, while the trade volume between Egypt and China increased to 11.3 billion dollars, the minister noted, expressing his country's willingness to join the BRICS group.