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Suez Canal Economic Zone Signs $487 Mln in Investment Accords with Chinese Companies

A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS
A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS
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Suez Canal Economic Zone Signs $487 Mln in Investment Accords with Chinese Companies

A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS
A view of the cargo ship XIN HAI TONG 23 after successfully being refloated to the waiting area, in the canal next to Ismailia, Egypt May 25, 2023. The Suez Canal Authority/Handout via REUTERS

Egypt's Suez Canal economic zone said on Friday that it signed investment agreements worth $487 million with Chinese companies.

The investments are in the fields of energy, textiles, and petrochemicals, according to the statement from the General Authority for Suez Canal Economic Zone.

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China to Cut Import Tariffs on Some Recycled Copper, Aluminium Raw Materials

People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
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China to Cut Import Tariffs on Some Recycled Copper, Aluminium Raw Materials

People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE
People walk along a bridge in Beijing, China, 28 December 2024. EPA/JESSICA LEE

China will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday.
The Ministry of Finance announced adjustments to various import tariff categories, effective Jan. 1, aimed at increasing imports of high-quality products, expanding domestic demand and promoting high-level opening-up, Reuters quoted it as saying in a statement.
Provisional import tariffs below the most-favored-nation rates will be applied to 935 items, the ministry said. Import tariffs will be reduced on ethane and certain recycled copper and aluminium raw materials to advance green and low-carbon development.
Tariffs will rise on commodities including molasses and sugar-containing pre-mixed powders will increase but be reduced on items such as cyclic olefin polymers, ethylene-vinyl alcohol copolymers and automatic transmissions for special-purpose vehicles such as fire trucks and repair vehicles.
Import tariffs will also be reduced on items such as sodium zirconium cyclosilicate, viral vectors for CAR-T tumor therapy, and nickel-titanium alloy wires for surgical implants.
The China-Maldives Free Trade Agreement will come into effect on Jan. 1, with tariff reduction implementations, the ministry said.