China curbs commodity exports to Egypt

Arab Finance
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China is taking steps to curb the shipment of goods to Egypt, according to the state-run General Organization for Export and Import Control (GOEIC).

The move comes as part of a deal between Egypt and China aimed at imposing tighter control measures on the bilateral commodity trade, reported Al-Masry Al-Youm.

GOEIC chief Mohamed Shafiq told the newspaper that China had halted the shipment of Egypt-bound cargos from July to December of last year. He went on to say that both sides had agreed that the GOEIC would be notified every six months about blocked shipments.

Shafiq explained that, according to the terms of the agreement, goods exported to Egypt would be monitored by the Chinese government so that the latter could verify that all goods listed on shipping lists and those prepped for export were the same. This, he said, was in order to combat smuggling.

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