The trade exchange between Egypt and china rose by 26.7% during the period from January to August 2018, reaching $8.83bn, according to the Chinese General Administration of Customs data, as reported by MENA on Monday.
“China’s exports to Egypt rose by 24.8% in the first eight months of 2018, to reach $7.61bn, compared to the same period last year, while China’s imports from Egypt jumped by 40.2%, reaching $1.22bn,” according to the Chinese General Administration of Customs.
The trade volume between the two countries reached $1.29bn in August, including $1.11bn Chinese exports to Egypt, and $183m Chinese imports from Egypt.
China has always been a key economic partner for Egypt over the past four years, as in December 2014, President Abdel Fatah Al-Sisi signed a comprehensive strategic partnership agreement with his Chinese counterpart Xi Jinping, including three cooperation agreements in the fields of economy, and technical cooperation. Sisi and Jinping exchanged several visits since that time.
Moreover, China occupied the 21st place in Egyptian foreign country investment, with $600m in 1,320 projects across the country, according to Egypt’s State Information Service.