Roundup: China encourages Egyptian companies to increase exports to Chinese market

Source: Xinhua| 2020-01-13 04:12:09|Editor: yan
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CAIRO, Jan. 12 (Xinhua) -- A Chinese delegation from China International Import Expo (CIIE) invited on Sunday more Egyptian companies to join the upcoming CIIE session and seize the chance to increase their exports to the Chinese market.

During "Cairo Promotion Conference of 3rd CIIE" held in the Egyptian capital, Liu Fuxue, deputy director general of CIIE bureau, said that the Chinese huge import fair greatly contributes to enhancing and strengthening "economic globalization."

"In the next 15 years, China intends to import commodities worth more than 30 trillion U.S. dollars and services worth about 10 trillion U.S. dollars," said Liu, head of the CIIE delegation.

He noted that the Chinese importation plan would give a strong push for global economy and provide chances for foreign firms to expand businesses and partnerships in the Chinese market.

"China and Egypt have vast markets, which supports the opportunities for further economic cooperation and more investment and trade exchange between the two countries," said the head of the Chinese delegation.

The 2019 CIIE was joined by nearly 3,900 companies from at least 155 countries and regions.

Han Bing, minister counselor for economic and commercial affairs of the Chinese embassy in Cairo, described the CIIE as "a pioneering move in the history of international trade development."

"Hosting the CIIE is a major initiative by China to open its market to the world, and it is an international platform to promote open cooperation to achieve common development," the Chinese diplomat told the attendees.

Han invited more Egyptian companies to join the third CIIE that will be held in Shanghai in November 2020, noting that several Egyptian companies actively participated in the first two CIIE editions in 2018 and 2019.

In 2018, trade exchange between Egypt and China exceeded 13.8 billion dollars, with 12-billion-dollar Chinese exports to Egypt and 1.83-billion-dollar Egyptian exports to China.

"Last year, Egypt was the largest exporter of oranges to China and Egyptian exports of agricultural fruits to China mounted to 140 million dollars," Han continued, noting that China is currently the largest trade partner of Egypt.

Egypt exports oranges, grapes, dates and sugarbeet pulp to China and is preparing for exporting pomegranates to the Chinese market, amid growing cooperation between the two countries.

Growing ties between Egypt and China have been elevated in 2014 to the level of comprehensive strategic partnership with the support of the political leaderships of both countries.

More than 1,600 Chinese companies are currently operating in Egypt with total investments of more than 7 billion dollars, providing over 30,000 job opportunities in the most populous Arab country.

Mohamed Helal, board member of the Egyptian-Chinese Business Council, described the Chinese market as "the hugest in the world," saying it is absorbant of foreign products in general.

Helal, also vice chairman of Gizatec company for manufacturing fertilizers, added that his firm's participation in the CIIE gave a strong push for its exports to China.

"We have seven distributors of our products in China, including two state-run companies. We export innovated fertilizers that serve different regions in China and assist farmers to transform from chemical-based agriculture to environment-friendly agriculture," the Egyptian businessman told Xinhua.

He noted that Gizatec cooperated for several years with different Chinese universities in the development of fertilizers.

For her part, Hala Dakroury, an official at Egypt's Exports Development Authority (EDA), said that the CIIE has become "a milestone in international cooperation" and "a target of different international corporations looking for massive investment opportunities in the huge Chinese market."

"The CIIE is a golden chance to market Egyptian products in China, seize the exportation opportunities provided by the exhibition and find Chinese trade partners," said Dakroury, head of EDA's Central Department of Information, Promotion and Cooperation.

"The CIIE reflects China's clear and constant steps towards openness to the world not only by importing products but importing services as well," the Egyptian official told the CIIE promotion conference.

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