Chinese investments in Egypt reach $6 billion

CAIRO, Dec 11 (MENA) - China's Economic and Commercial Counselor at the Chinese Embassy in Cairo Han Bing said the total Chinese investments in Egypt reached six billion dollars, including direct and indirect investments.

These remarks were made Monday during the Egyptian Chinese Business Council, which is organized by the Federation of Egyptian Chambers of Commerce in cooperation with the Chinese Embassy in Cairo.

The counselor, during his speech, referred to Chinese projects in Egypt, especially in the field of infrastructure and energy, including the Chinese trade and industrial zone in northwest the Gulf of Suez.

He said that Egypt adopted the Chinese Yuan in the basket of currencies of Egypt's Central Bank, noting that developing trade relations between both countries has become highly important in order to form strategic partnership.

He lauded stability and economic prosperity in Egypt due to the measures of the economic reform program, which reflected on the increasing Egyptian exports to China.

He pointed out that China seeks to solve the problem of lack of information regarding the specifications and conditions of exported Chinese goods to Egypt, which face the Egyptian businessmen, pledging to solve all obstacles.