Egypt launches largest trade fair for Chinese investors

Egypt launched Tuesday the largest trade fair for Chinese investors, as Chinese companies in Egypt showcased their products and services to local consumers.

The inauguration ceremony of the China Trade and Investment Exhibition held at the Cairo International Fair Ground was attended by a number of Egyptian and Chinese businessmen as well as officials from both countries.

The participant Chinese companies and manufacturers displayed various products such as textile and garments, furniture, home electronics, building materials and cars.

"China ranks 21st among foreign countries investing in Egypt and we are targeting to have China among top 10 investors in Egypt," Mona Zobaa, chairman of Egyptian General Authority for Investment, told Xinhua.

She added that China and Egypt are currently strengthening cooperation in trade and economic spheres through improving investment climate, creating investment opportunities and furnishing investment map in Egypt.

China is Egypt's largest trading partner with a trade volume of about $11 billion in 2016 and about $5.2 billion in the first half of 2017.