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China pledges to ease trade imbalance with Egypt

An official from the Chinese Embassy in Cairo said Tuesday the Chinese government is seeking to ease the trade imbalance between China and Egypt through enhanced economic cooperation.


Cui Mingmo, head of the commerce department of the Chinese Embassy, noted at a press conference that the Chinese government sent a group of entrepreneurs to Egypt last month, spending some 5 million US dollars in purchasing Egyptian goods, as part of efforts made by the Chinese side to ease the problem.


China attaches great importance to the bilateral economic relations with Egypt and will help Egypt further reduce its trade deficit with China, he added.


Bilateral trade between Egypt and China reached 1 billion dollars last year. At the end of July this year, bilateral trade amounted to 871 million dollars, with Egypt's exports standing at 124 million dollars.


Cui pointed out the Chinese government has also offered to Egyptian companies free exhibition stalls in China to help them win more business deals from their Chinese counterparts.


He said further development of bilateral economic ties is beneficial to both countries, stressing that the trade imbalance can be set right through consultation and cooperation.


Source: Xinhuanet

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