China Supports Egypt by Investing $20 B

The Egyptian revolution did not stop Chinese exports from coming into Egyptian, and China is directly and indirectly investing in Egypt more than $20 b, said Waleed Tawfeek, general secretary of the division motors, head of IDI and agent for six Chinese companies in Egypt.

Tawfeek said the Chinese government aims to take 70 percent of Egypt's market in all fields by supporting and developing Chinese products and exports.

He also said that Chinese policy gives priority to its national economy and recognizes the importance of exporting. Chinese and international companies in Egypt and the rest of the Middle East and Egypt are markets that require increasing exports in all fields.

He added that the Chinese are focusing on industries that help big industries, particularly the car industry.10 Chinese companies are meant to enter the Egyptian market and aim to take 50 percent of the car industry in Egypt.

Tawfeek said that trucks and lorries in Egypt are breaking all international regulations for safety which is in turn causing a lot of accidents.

He suggests the Egyptian government contributes too collecting parts of local trucks. According to Tawfeek, many Chinese companies offered to help Egypt's transportation sector if the government refuses.