CAIRO: The China Foreign Trade Centre (CFTC) announced the upcoming launch of the 118th Canton Fair from Oct. 15 to Nov. 4 at the Import and Export Fair Complex in Guangzhou, China, according to a press release.
The launch of the 118th Canton Fair came at a press conference held in Cairo by CFTC, in collaboration with the Embassy of the People’s Republic of China (PRC) in Egypt.
Speaking of the bilateral trade relation, the press release mentioned that in 2014 China imported from Egypt Crude Oil and Gas Oil, Marble and Granites, Iron Ore and Iron Sand, and Leather with a value of $1.16 billion
In 2012, China became the top trade partner for Egypt, with a trade volume representing $9.5 billion. Total volume of commercial trade between both countries edged up from $10.2 billion in 2013 to $11.6 billion in 2014, of which $1.16 billion were Egyptian exports to China, the release said.
Vice President of International Communication Department of China Foreign Trade Centre Mr. Yu Yi urged both sides to increase trade and investment opportunities which will be a positive reflection on the economies of the two countries.
The Canton Fair, which was initially launched in 1957 in Guangzhou, has enjoyed the largest scale and the best business turnover in China for over 50 years. It also attracted the biggest buyer attendance from the broadest range of countries for 117 sessions, according to the press release.
According to the release, the 117th session of Canton Fair concluded May 5, attracting 184,801 buyers from 216 countries.