Egypt has close economic and trade ties with neighboring countries and is a member of several regional economic organizations. It enjoys a variety of economic and trade preferential policies. Egypt is a member of the Greater Arab Free Trade Area and has joined the Common Market for Eastern and Southern Africa (COMESA). Industrial products exported to the EU are also subject to duty-free treatment and import tariffs are reduced.
Egypt is an important market that radiates throughout the MENA (Middle East and North Africa) region. The population development in the MENA region will soon exceed 20% of the EU, forming a huge regional consumer market with a consumption of 400 million people.
With a population of more than 91 million, Egypt is the largest polymer market in Africa with good market prospects and many opportunities for foreign manufacturers to expand or expand their business in Egypt. According to relevant data, the Egyptian polymer market is growing year by year from 15 years to 21 years.
The Egyptian plastics division of the Federation of Egyptian Industries (FEI) said that the total market for Egyptian plastics was $4.03 billion, with a total investment of about $4 billion. In addition to direct investment, according to media reports, Egypt and Russia signed a $1.2 billion railway transformation agreement in 2018. The Egyptian Ministry of Transport plans to complete the upgrade of the Egyptian railway infrastructure by 2020, which will cost about 45 billion Egyptian pounds. This will greatly improve Egypt's transportation construction and promote business development.
Egypt has a large pipe and cable extrusion industry, accounting for nearly 30% of plastics demand. Packaging accounts for 43% of polymer demand. In addition, the Egyptian automotive industry is the fourth largest automotive industry in Africa, accounting for 15% of plastics demand. The rubber and plastics market has a wide range of industry needs in Egypt. China-Egypt relations are friendly and China is one of the important importers in Egypt.
According to ITC data, in the plastic raw materials, injection molding, blow molding, extrusion and other industries, China's imports from Egypt account for about 30% of Egypt's global import value, and the annual demand is relatively large, the market potential is large.
Our company participated in the exhibition. During the exhibition, the customers who came to consult and negotiate were in a constant stream. At the same time, the leaders of both sides also visited our booth and brought us a lot of popularity.
The 2019 Egyptian exhibition has gained more attention than Egypt, and it is also a high concern in all parts of Africa. Important political and business guests from China and Egypt came to the exhibition and attended the opening ceremony.
The leaders of both China and Egypt attach great importance to the development of the "Belt and Road" project and the cooperation between the two countries. At the same time, they attach great importance to the Egyptian exhibition and have an in-depth dialogue with the Chinese representatives. At the same time, Mr. Liao Liqiang, Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt It expresses full support for this investment investigation and the China-Egypt Investment Cooperation Forum in the same period, and welcomes Chinese enterprises to actively participate in investment projects in Egypt.
Speech by important leaders of both sides
from left to right:
Former Prime Minister of Egypt, Chairman of the Sharif Foundation, Dr. Issam Sharif
Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt Mr. Liao Liqiang