Cairo committed to fostering Chinese investment: Prime Minister
Prime Minister Sherif Ismail - YOUM7

CAIRO: Cairo is “adamant” about fostering a friendly investment climate for Chinese industries, Prime Minister Sherif Ismail stated in a Sunday meeting with President Sisi, the presidency announced.

Ismail presented an overview of the projects prepared for the expected visit of the Chinese head of state later in January.

Egypt has been seen courting Chinese investment in the recent period; Cairo delayed the Egypt Economic Development Summit twice in order to accommodate the Chinese lunar new year celebrations.

President Abdel Fatah al-Sisi has visited China twice since assuming his position; he travelled to China in September 2015 to attend the celebrations of the 70th anniversary of World War II victory, and he paid Beijing a two-day visit in December 2013 to enhance the bilateral between both countries, particularly in the economic field.

Trade between Egypt and China amounted to $10.3 billion in 2013, of which $1.9 billion were Egyptian exports to China and $8.4 billion were imports from China, according to government figures.

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