• Short Summary

    A new trade agreement between Egypt and the People's Republic of China was signed in Cairo last weekend (March 19).

  • Description

    A new trade agreement between Egypt and the People's Republic of China was signed in Cairo last weekend (March 19).

    According to an earlier report from the Middle East News Agency, the new trade protocol would raise the level of existing exchanges from 30 to 35 million pounds sterling (78-91 million dollars).

    The agreement was signed by Chinese Foreign Trade Minister Pai Hsiang-Kuo and the Egyptian Deputy Premier for the Economy, Mr Mohammed Marzeban.

    SYNOPSIS: Outside the Ministry of Economy in Cairo last Saturday as Chinese foreign trade Minister Pai Hsiang-Kuo arrived to sign a new trade agreement with Egyptian officials.

    Inside, the Chinese delegates were received by Mr Mohammed Marzeban, the Egyptian Deputy Premier for the Economy.

    According to the Middle East News agency, the new protocol raises the present level of trade from 30 to 35-million pounds sterling. The agency also said that China may help Egypt implement a number of development projects. The signing of the trade accord was the high point of the Chinese delegation's 10-day visit to Egypt.

    Earlier in the visit, the Chinese Foreign Trade Minister had talks with Egyptian Vice-President Mahmoud Fawzy. And a few days before the agreement was reached, the Chinese embassy in Cairo held a reception for their trade delegation to which many high-level Egyptian officials were invited.

    Another development in Chinese-Egyptian relations was the announcement in Cairo that President Anwar Sadat's foreign affairs advisor, Mahmoud Riad, would begin a seven-day visit to China this week. The purpose of Mr Riad's visit was not immediately known, though sources in Cairo say he'll be acting as envoy of President Sadat.

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    Reuters - Source to be Verified
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