The 9th BRICS Summit 2017 kicked off on Sunday in the Chinese port city of Xiamen with the participation of President Abdel Fattah El Sisi of Egypt for the first time ever.
The BRICS group of emerging economies must promote trade liberalisation and an open world economy, Chinese President Xi Jinping said at a business meeting on Sunday at the start of a three-day summit being held in southeastern China.
Egypt is ranked among the world’s 21 most powerful economies in 2030, according to British newspaper the Independent, citing a report by global accounting firm PricewaterhouseCoopers (PwC) published earlier this year.
The Chinese investments in the New Administrative Capital included $3.2 billion invested in the second phase of the project, Osama Magdoub, Egypt’s Ambassador to China said Sunday.
Moreover, investments worth $8 billion will be implemented in the new capital over the next 10 years.
The first will be for the funding of the electric train project between Salam City and the New Administrative Capital, while the second will entail the establishment of Egypt’s second satellite “Egypt Sat 2”.
Egypt, represented in the Tourism Development Authority, is participating in the 2017 China-Arab States Expo as a guest of honor. There, it will highlight its tourist products and promote the country’s tourist destinations.
An infograph that shows some facts and figures about this group of emerging economies.
A high-level British trade delegation, led by UK trade envoy to Egypt Jeffrey Donaldson, will visit Cairo this month to discuss pumping more investments in various sectors in Egypt.
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