65 years of relations: Ambassador Liqiang says China is Egypt’s largest trade partner

65 years of relations: Ambassador Liqiang says China is Egypt’s largest trade partner

CAIRO - 27 May 2021: Chinese Ambassador to Cairo Liao Liqiang on Thursday marked the 65th anniversary of the establishment of the Egyptian-Chinese relations, saying China is Egypt's largest trade partner. In a press conference, Liqiang said the trade volume between Egypt and China reached $14.5 billion. He noted that trade exchange in the first quarter of 2021 rose by 31 percent to reach 4.18 billion. The direct investments between Egypt and China in 2020 reached $190 million, Liqiang said, noting that total Chinese investments in Egypt reached $1.2 billion. In Q1 2021, direct investments between the two countries were almost doubled to reach $83 million. Liqiang said the Egyptian-Chinese relations in all fields, including economy and trade, have seen progress. Cooperation in the fields of energy, space, information technology, communication, mining and petrochemicals also saw a huge progress, the ambassador noted. During the pandemic, the cooperation projects between the two countries regularly grew, including in the Suez Canal zone, the New Administrative Capital and the railway project in the 10th of Ramadan city. There is also cooperation in other new projects, including the establishment of five tall residential buildings in the New Alamein City and the electric car project