02:27
The first China International Import Expo concluded last week, offering the world new opportunities for cooperation with China. Egypt is among one of the eleven countries noted as a guest of honor for the event. The country's Prime Minister Mustafa Madbouly, attended the expo, leading a group of officials and businessmen aiming to introduce their products to Chinese and international markets. Yasser Hakim has reaction from Cairo.
The CIIE has been seen as an important opportunity to boost Egypt's exports. Egypt's Prime Minister Mustafa Madbouly headed the delegation and ensured Egypt had a significant presence at the Exhibition.
SHOHRAT AREF DEPUTY EDITOR IN CHIEF, MENA, NEWS AGENCY "The Egyptian pavilion was impressive. There was the National Section which included government agencies like the ministries of investment, tourism and the suez canal authority. Then the companies section which had 26 companies all in the agricultural sector and one in medical plants. There was a lot of traffic and activities at the Egyptian pavilion."
Deals signed were in the range of $300 million, mainly in agricultural products. Shohrat Aref who was at the Expo says the CIIE has exceeded expectations.
SHOHRAT AREF DEPUTY EDITOR IN CHIEF, MENA, NEWS AGENCY "Egypt was chosen as the only guest of honour from the Middle east which reflects the strong ties between both countries lately. It was a success. Deals were signed to export grapes, oranges, tangerines and potatoes. Chinese companies are also studying opportunities for importing dates as well."
Bilateral trade stands at $12 billion, but eleven billion of them are Chinese exports to Egypt.
The floating of the Egyptian pound recently has reduced the price of Egyptian goods, making it more competitive.
Cairo hopes it can build on the success of the CIIE to increase exports further and balance its trade with China in the future.
YASSER HAKIM CAIRO, EGYPT"Most of the deals signed at the CIIE are in agriculture. Analysts say to increase the volume of trade with China, Egypt needs to diversify its exports. The chemicals industry is one sector that has potential in the Chinese market. Yasser Hakim CGTN Cairo."