Belt & Road Initiative: Jushi company a successful example of China-Egypt cooperation

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A fiberglass company in the Suez Canal Region of Egypt has been regarded as one of the most successful examples of China-Egypt industrial cooperation. The company has successfully managed to combine Egypt's materials, staff and trade policies, with Chinese technology. Our reporter Wu Guoxiu visited the Jushi group in Egypt's Suez Canal region to find out more.

120 kilometers east of Cairo, an industrial area stands out in the desert. Jushi fiberglass company was born here in 2012, with investment from China's fiberglass giant. Its major market, however, is Europe.

WU PING, EXEC. DEPUTY MANAGER JUSHI EGYPT FOR FIBERGLASS INDUSTRY "Over 95 percent of our products are exported to Europe, like Germany, Spain and Italy. Some are sold to Turkey. 5 percent are sold in Egypt."

In the eyes of Jushi, this location's close proximity to Europe is one advantage. The low tax is another.

WU PING EXEC. DEPUTY MANAGER, JUSHI EGYPT FOR FIBERGLASS INDUSTRY "The European Union imposes as high as 34 percent of anti-dumping tax for China's fiberglass products. Although reduced 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 GUOXIU SUEZ, EGYPT Here in this fiberglass company, major materials are local, 97 percent of its staff are also local. The Chinese investor can enjoy cheaper cost, Egyptians also get jobs.

The fiberglass is ultimately used for bathtubs, doors, aircrafts and cars. This is the first and only fiberglass producer in Egypt.

WU PING EXEC. DEPUTY MANAGER, JUSHI EGYPT FOR FIBERGLASS INDUSTRY "Our technologies are from China. We are developing a lab with an Egyptian research center. Egypt has no fiberglass companies - we can introduce our technology and standards to them."

Jushi lies in the China-Egypt Suez Economic and Trade Cooperation Zone. Egyptians always refer it to TEDA, in the name of its Chinese developer. Its first phase attracted some 68 enterprises, with Jushi being one of them. The second phase, inaugurated by both presidents in 2016, is on the way. Wu Guoxiu, CGTN, Egypt.