A total of 23 major Egyptian companies participated in the second CIIE, hoping to seize the opportunities in the massive Chinese market and establish more business partnerships.
The second edition of China International Import Expo (CIIE) a few days ago “offered great chances for Egyptian businesses to seize the tremendous opportunities provided by the Chinese consumer markets,” Ahmed Sallam, a former media consultant at the Egyptian Embassy in China, told Xinhua News Agency.
The second CIIE kicked off in Shanghai on Tuesday, November 6, and lasted until November 10 under the theme of “New Era, Shared Future,” with the participation of nearly 3,900 companies from at least 155 countries and regions. The participation of 23 major Egyptian companies, amid a Chinese tendency to increase its imports to 10 trillion U.S. dollars over the next five years, is expected to boost the Egyptian exports to China, according to Sallam.
Trade between Egypt and China surpassed 13.8 billion dollars in 2018, with 12-billion-dollar Chinese exports to Egypt and 1.8-billion-dollar Egyptian exports to China. Marble is one of the key items of Egyptian exports to China. More specifically, in 2018, Egypt exported to China marble blocks and slabs of $9.96 million worth and finished marble products of $39.92 million worth.
Sallam emphasized that Egypt has a greater opportunity for increasing its exports to China because of the current development of its Suez Canal region and the lower shipment costs of Egyptian commodities exported to China compared to those of European commodities. He also mentioned that China will give foreign investments greater market access to more sectors and improve institutions for investment promotion and protection.
Source: www.xinhuanet.com
