Egypt is looking to strengthen its economic relationship with China, with a focus on investment and trade, Investment and Foreign Trade Minister Hassan El-Khatib said Monday.
El-Khatib met with members of the Egyptian-Chinese Business Council on Monday to discuss ways to boost cooperation between the two countries.
The meeting was attended by Hossam Heiba, CEO of the General Authority for Investment and Free Zones; Mohamed Awad Tag El-Din, Presidential Advisor for Health Affairs; Hisham Okasha, Chairperson of the National Bank of Egypt; Sherif El-Gabaly, Chairperson of the African Affairs Committee in the House of Representatives; and Ahmed El-Sewedy, Chairperson of the Egyptian-Chinese Business Council.
“Stimulating investment for export is a key driver of our economic policies,” El-Khatib said, adding that coordination between government agencies is essential to increase commodity exports.
The minister highlighted the importance of deepening ties with China to integrate Egypt into global supply chains.
This includes facilitating the import of intermediate goods and then exporting final products, leveraging the growing interest from the Chinese business community in transferring various industries to Egypt, which offers numerous competitive advantages and proximity to major global markets.
El-Sewedy echoed El-Khatib’s sentiments, noting that Egyptian industrialists and the ministry share a common goal of attracting Chinese investment, particularly in manufacturing and tourism.
“Both sectors have the potential to provide sustainable foreign exchange resources and the increasing Chinese interest.”
Tag El-Din noted growing Chinese interest in Egypt’s healthcare sector, particularly medical device manufacturing and pharmaceutical production.
The attendees agreed to jointly organise promotional visits for Chinese investors interested in the Egyptian market. These visits will aim to showcase the investment incentives and highlight the most attractive areas and projects for investment, as well as expand the establishment of free and investment zones equipped to host targeted Chinese investments.
