Success of Jushi's fiberglass reflects China-Egypt cooperation

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Europe

Jushi Egypt For Fiberglass Industry S.A.E (Jushi Egypt), located in the China-Egypt Suez Economic and Trade Cooperation Zone, has been regarded as one of the most successful examples of industrial cooperation between the two countries.

The company has successfully managed to combine Egyptian materials, staff and trade policies, with Chinese technology.

The company was founded in 2012 with investment from China’s fiberglass giant Jushi Group, and now mainly exports its products to Europe.

"Over 95 percent of our products are exported to Europe, like Germany, Spain and Italy. Some are sold to Turkey. Five percent are sold in Egypt," Wu Ping, executive deputy manager of Jushi Egypt, told CGTN.

Jushi Egypt believes that both Egypt's proximity to Europe and low tax rate are advantages leading to success.

"The European Union imposes as high as 34 percent of anti-dumping tax on China's fiberglass products. Although it's down to 13.8 percent after arbitration, it's still high. But Egypt has a trade deal with the EU, there is no anti-dumping tax here,“ Wu said.

It is a win-win cooperation for both China and Egypt as the latter uses local materials and hires local workers, which account for 97 percent of the staff in the company.

Fiberglass is widely used in bathtubs, aircraft and cars.

As the first and only fiberglass producer in Egypt, Jushi Egypt is developing a lab with an Egyptian research center to introduce technology from China.