Egypt trade, electricity ministers arrive in China

Egypt's Trade and Industry Minister Mounir Fakhry Abdel Nour and Electricity Minister Mohamed Shaker arrived in Beijing Sunday.

The two ministers will hold several meetings with the Chinese side to complete bilateral talks on future cooperation along with reviewing the agreements that will be signed during Egypt's President Abdel Fattah El Sisi's visit to China due on Tuesday.

Earlier, Commercial Counselor at the Egyptian Embassy in Beijing Ayman Osman told MENA correspondent here that the agreements that will be signed between the Egyptian and Chinese side during Sisi's visit to China include the cooperation agreement related to promoting production capacity.

This agreement was signed by the initial letters on June 15, said Osman, adding that an agreement between the China Development Bank and the National Bank of Egypt will be signed to provide a loan at a value of 100 million dollars to finance small and medium enterprises.

The volume of trade exchange between Egypt and China reached 11.6 billion dollars in 2014, making Egypt China's third biggest trade partner in the African continent.

There are also about 1,213 Chinese companies which are operating in Egypt, according to Egypt's official data.