China inspires Egyptian firms to boost exports

Published:

On: Jan 2020

A Chinese administration from China International Import Expo(CIIE) invited numerous Egyptian firms to join the forthcoming CIIE platform and meanwhile, clinch the attempt to gain their exports to the Chinese industry. During the Cairo promotion conference of the third CIIE organized in the capital of Egypt, the deputy director of CIIE, Liu Fuxue, said that the Chinese massive import largely contributes to the promoting and intensifying economic globalization.

Mr. Liu said that, in the next 15 years, China proposes to import commodities account over 30 trillion American dollars and services worth more than ten trillion US dollars. He indicated that the importation plan of China would offer a powerful push for the worldwide economy and offer chances for foreign organizations to enlarge businesses as well as alliances in the Chinese industry.

The head of the Chinese authority said that, both China and Egypt have huge industries, which assists the opportunities for further economic collaboration and additional investment and trade exchange between the two nations. Last year, CIIE was joined by almost 3,900 companies from nearly 155 nations and zones across the globe.

The minister counselor for economic & commercial affairs of the embassy of China, in Cairo, Han Bing introduced the CIIE as an evolving move in the international trade development history. Establishing the CIIE is the main initiative by China to launch its industry to the globalize scale and its a universal platform to upgrade open collaboration to gather usual development. He invited more Egyptian firms to collaborate with the 3rd CIIE that will be facilitated in Shanghai in November 2020, indicating that a wide range of Egyptian firms actively engaged in the first two versions in 2018 & 2019.

China is presently the biggest trade partner of Egypt. Egypt exports grapes, dates, oranges and sugarbeet pulp to China. It is preparing for exporting pomegranates to the Chinese industry, amid increasing cooperation between the two nations.