Addressing the Egypt-China Economic and Trade Cooperation Seminar in Cairo, Chinese Minister of Commerce Bo Xilai said that the value of trade exchanges between the two countries is expected to reach some US$1.5 billion this year, more than 50 percent up on 2003.

The minister also said that the Chinese government is encouraging Chinese companies to buy more Egyptian goods as well as invest in Egypt.

He added that he hoped the Egyptian government, working with the Chinese side, would help those companies find new opportunities in the north African country.

Meanwhile, Egyptian Minister of Industry and Foreign Trade, Rasheed Mohammad Rasheed Hussein, told the seminar that the Egyptian government had taken "specific measures" to attract more direct foreign investment, especially from China.

Some 500 Egyptian and Chinese businessmen and officials attended the seminar, which provided a platform for both sides to discuss ways of promoting bilateral economic and trade cooperation.

(CRI.com December 6, 2004)