China import expo serves as "window" to enhance Egyptian economy: ambassador

Chinese Ambassador to Egypt Liao Liqiang (C) answers questions during a press conference in Cairo, Egypt, on Oct. 30, 2019. Chinese Ambassador to Egypt Liao Liqiang said on Wednesday that the China International Import Expo (CIIE) is more than a platform for Egypt and China to elevate the level of trade exchange. (Xinhua/Wu Huiwo)

CAIRO, Oct. 30 -- Chinese Ambassador to Egypt Liao Liqiang said on Wednesday that the China International Import Expo (CIIE) is more than a platform for Egypt and China to elevate the level of trade exchange.

"It's a new window to promote history, culture and social and economic accomplishments of Egypt at the international arena," Liao told a press conference at the headquarters of the Chinese embassy in Cairo.

The second edition of the CIIE, which runs from Nov. 5 to 10 in Shanghai, will be also "a new channel to lure more foreign investments, enhance economic growth, and expand the base for creating job opportunities in Egypt," he said.

Some 23 Egyptian companies will take part in the 2019 expo under the theme "New Era, Shared Future," the Chinese ambassador revealed.

The Egyptian pavilion, which covers an area of 360 square meters, will house food as well as agricultural and services products, Liao said, adding some state-run financial institutions such as National Bank of Egypt and Banque Misr will take part in the event.

According to official statistics, the value of the deals Egyptian companies concluded in the first edition of the Chinese import expo in 2018 amounted to 42 million U.S. dollars.

In 2018, the trade between Egypt and China exceeded 13.8 billion dollars, with 12-billion-dollar Chinese exports to Egypt and 1.83-billion-dollar Egyptian exports to China.

"Beijing is ready to work with Cairo on expanding the Egyptian exports to China and to control the trade balance as possible," Liao said.

With a population of about 1.4 billion, China seeks to increase the Egyptian agricultural imports, especially oranges, grapes, dates and beets, the Chinese ambassador said.

The Chinese investments in Egypt have hit 7 billion dollars and the number of Chinese tourists visiting Egypt in 2018 reached 500,000, which manifested the growing ties between the two countries, he noted.

Compared to the first edition of the CIIE that saw deals estimated at 57.8 billion dollars, the second CIIE will cover an area of 330,000 square meters, Liao said.

Some 170 countries and international organizations including 50 Arab and African countries, as well as 3,000 companies and 400,000 buyers have applied to attend the second import expo in China, he added.

"China is ready to work with the international society to draft active channels to receive the world commodities, products, services and technologies for creating a base for open cooperation," Liao noted.