China Guangdong-Egypt Economic and Trade Cooperation Fair was held on October 10 in Cairo of Egypt. Guangdong Province and enterprises in Egypt had reached 22 cooperation projects with contractual value of USD 922 million. The occasion is also attended by Egyptian Prime Minister Ahmed Nazef, Mr. Zhang Dejiang, member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of Guangdong provincial committee and Chinese Ambassador to Egypt Mr. Wu Sike.

The projects, on which both parties signed agreements on October 10, were involved in investment, engineering contracting, import and export trade and so on. The contractual value of engineering contracting hit USD 838 million.

A lot of Chinese renowned companies, including Guangdong Silk Corporation (Group), Huawei Technologies co., Ltd. and ZTE Corporation, signed contracts with enterprises in Egypt.

Egyptian Prime Minister Ahmed Nazef stated, Egyptian Government would focus on foreign investments introduction and welcomes Chinese enterprises to invest there.

In recent years, China and Egypt are continuously deepening their economic and trade cooperation. In 2003, their trade value hit USD 1 billion for the first time. In the first seven months, the trade value between them arrived at USD 871 million, an increase of 49.8% over last year.

Egyptian Prime Minister Ahmed Nazef  addressing  the Fair

Ambassador Wu Sike addressing the Fair