China seeks to boost Egypt investments: Chinese FM
Chinese Foreign Minister Wang Yi - AFP

CAIRO: President Abdel Fatah al-Sisi held a meeting Sunday morning with Chinese Minister of Foreign Affairs Wang Yi, and discussed bilateral relations between both countries, according to Egyptian Minister of Foreign Affairs Sameh Shoukry in a released statement.

Shoukry headed a conference including Wang, and the Egyptian ministers of trade, electricity and a number of Chinese officials from the Chinese trade and foreign affairs ministries.

According to the statement published on the Foreign Ministry’s official website, China and Egypt will cooperate in the management of economic zones, and increase Egyptian exports to China to help in treating the great imbalance in Sino-Egyptian trade.

Both sides also discussed ways to enhance cooperation in the sectors of agriculture, industry, technology, transport and railways, including the implementation of high-speed trains. China has also offered training programs in these fields, according to the statement.

Meanwhile, Wang said in a press conference held earlier today that he had discussed ways to encourage and increase Chinese investment, the overcoming of obstacles facing investors and the successful experience of China in the development of a project northwest of the Gulf of Suez.  Egypt intends to implement the project as a hub of the Suez Canal and the Golden Triangle zone, Al-Wafd news website reported.

“Indirect investments between Egypt and China in the last few years reached $500 million, and China aims to increase cooperation between both countries in different fields,” Wang said according to a Foreign Ministry press statement.

Last February, Chinese Ambassador to Egypt Song Aiguo said in a press conference that the investment volume between his country and Egypt hit $10 billion in 2013.

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