Chinanews, Beijing, April 9 - General Authority for Investment and Free Zones of Egypt announced recently that a Chinese industrial zone will be built in Egypt, to abosorb more investment from Chinese enterprises.

 

The Egyptian government is planning to attract at least 100 Chinese enterprises and absorb some $100 million of investment.

 

"We started to negotiate with China for building a Chinese industrial zone in Egypt since 2006, and achievements have been made in auto parts, leisure goods and electronics," said Rashid Mohammed Rashid, the Minister of Foreign Trade and Industry.

 

It is said that Rashid will visit China in the next 4 months, when the location and related industries of the industrial zone might be confirmed.

 

In 2006 alone, the trade volume between China and Egypt was more than $3 billion. By the end of last October, there were 277 Chinese-invested enterprises, with a total investment of $300 million.