ArabFinance: Egypt aims to cooperate with China to issue yuan-denominated bonds in the Chinese market, the world’s second-largest bonds market, according to an official statement by the Ministry of Finance on May 11th.
This step will help Egypt to diversify financing resources and tools and to attract new investors and will assist in cutting costs, Egyptian Minister of Finance Mohamed Maait said during his meeting with the Chinese Ambassador to Cairo Liao Liqiang.
The Egyptian government is keen on reinforcing the trade exchange with China as well as strengthening mutual economic ties and investments between the two countries, the minister stressed.
Moreover, he pointed out that the government seeks to exchange expertise with the Asian country in terms of modern technology through the establishment of an industrial base for manufacturing Chinese electric vehicles (EVs) in Egypt.
China is a key trade partner for Egypt and the government is ensuring to extend the current cooperation between both countries to include all financial fields, Maait noted.