Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, invited Chinese banks to invest in the Egyptian market during his meeting with his Chinese counterpart on Wednesday. Abdalla pointed out to the fact that the presence of Chinese banks in the Egyptian market is a necessity due to the increasing trade between both nations. He also said that he looks forward to working with China more to help create more trade channels between China and Africa through Egypt. The governors also talked about the Free Trade Agreement to enhance investment between both countries as well as contribute to financial stability. For his part, governor of the Chinese central bank welcomed Egypt's initiative to produce Panda Bonds, which highlights the strong relations between Egypt and China.