India: According to Youssef, there are approximately 1,220 Chinese companies operating in Egypt in the industry, construction and services sectors with 500m in investments. Egypt has officially joined the Silk Road Economic Belt trade union, which encompasses 92 Chinese and foreign associations, the State Information Service (SIS) reported on 3 july2015
In cooperation with the Shanghai Chamber of Commerce, the Egyptian Businessmen Association was chosen to represent Egypt in the Silk Road trade union.EBA executive director Mohamed Youssef said Chinese President Xi Jinping disclosed that China targets to raise 2.5tn in trade volume to the Silk Road trade union in 10 years
.Youssef added the government is giving “great” attention to the initiative, with the aim of creating investment and trade opportunities between both countries, noting that the Chinese government offered to link the project to the Suez Canal. He added that China ranks the 24th in foreign countries investing in Egypt.
