Cairo – Mubasher: Egypt’s Finance Minister Mohamed Maait said that Egyptian-Chinese ties enjoy strength in various fields, especially economic relations, the Middle East News Agency (MENA) reported.

Trade volume between Egypt and China amounts to $15 billion, Maait said on the margin of the launching ceremony of the Egyptian-Chinese Businessmen Association at the New Administrative Capital (NAC).

Maait noted that Egypt is opening doors to Chinese investments which have grown exponentially over the past 10 years. The businessmen association is a new platform for an effective, sustainable dialogue between the two countries.

During the first eight months (8M) of last year, Egypt’s imports from China registered $8.61 billion, compared to $7.70 billion in the year-ago period.

In 2017, China became the sixth largest investor in Egypt with $28.50 billion worth of investments across the Arab region, providing 24,000 job opportunities. Egypt alone is home to over 140 Chinese companies, 55% of which focus on industrial projects, 20% on construction, and 12% on services.

The Arab world’s most populous nation works to issue yuan-denominated Panda bonds worth $500 billion, as part of plans to diversify its international financing markets and enhance bilateral cooperation, the minister added.