Chinese SEZ likely in Egypt

The first Chinese economic zone, out of the five proposed in Africa, is likely to be established in Egypt, which will contribute to the growth of Chinese investment in that country, said a top Egyptian investment promoter.

Assem Ragab, chairman of the General Authority of Investment and Free Zones (GAFI) of Egypt, said as the trade between the two countries is expected to triple to $10 billion by 2010, investment of Chinese companies in Egypt can grow at a similar pace.

In the first nine months of this year, the trade volume between the two stood at $3.33 billion, according to the Ministry of Commerce.