Latest news with #Egypt-China
The Star
12 hours ago
- Politics
- The Star
China, Egypt eye stronger Global South cooperation via SCO
CAIRO, July 21 (Xinhua) -- The Chinese Embassy in Egypt and the Egyptian Council for Foreign Affairs on Sunday jointly held a seminar in Cairo, emphasizing the steady advancement of China-Egypt relations within the framework of the Shanghai Cooperation Organization (SCO). The event brought together senior diplomats, foreign affairs experts, and media representatives from both countries. In his keynote address, Chinese Ambassador to Egypt Liao Liqiang pointed out that Egypt is a dialogue partner of the SCO, welcoming Egypt's active participation in various SCO activities. He said he expected China and Egypt to forge close coordination and cooperation under the framework of the SCO, and promote bilateral relations towards the goal of building a China-Egypt community with a shared future in the new era and contributing to world peace and development. The guests at the meeting praised the booming Egypt-China relations and the role played by the SCO. They expressed hopes that Egypt and China could seize the development opportunities offered by the SCO to work together to improve global governance and promote the revitalization of the Global South. Ezzat Saad, director of the Egyptian Council for Foreign Affairs, who presided the seminar, told Xinhua that Egypt has always been committed to strengthening cooperation with China, both at the bilateral level and within the framework of the SCO. "We believe that the SCO is an important platform for promoting the development of Egypt-China relations. Egypt looks forward to further deepening political and economic cooperation among the countries of the Global South based on the initiatives proposed by China," he said.
Malaysia Sun
14-07-2025
- Business
- Malaysia Sun
World Insights: China, Egypt deepen cooperation for shared growth
Egypt-China cooperation helps elevate both nations and offers a stronger voice for the Global South, said Egypt expert Salah El-Din Fahmy. CAIRO, July 14 (Xinhua) -- As China and Egypt -- now fellow BRICS members following Cairo's 2024 accession -- are to mark their 70th anniversary of diplomatic relations in 2026, analysts anticipate a significant deepening of their economic cooperation and strategic partnership. LANDMARK DEALS PROJECTS China and Egypt signed multiple cooperation documents last week in such areas as e-commerce, green and low-carbon development, development assistance, finance and health. Experts see the deals as a boost to Egypt's ambition to become a regional energy and logistics hub and to China's efforts promoting South-South cooperation under the Belt and Road Initiative (BRI). Among the landmark deals, the People's Bank of China (PBOC) and the Central Bank of Egypt signed a memorandum of understanding to deepen financial cooperation, which covers local-currency settlement, collaboration on central bank digital currencies and digital innovation. According to Pan Gongsheng, governor of the PBOC, these efforts will provide more efficient and convenient services for enterprises of both countries in trade, investment and financing. Diaa Helmy, secretary-general of the Egyptian-Chinese Chamber of Commerce, described the financial cooperation as a critical signal of trust and a long-awaited step in Egypt-China economic ties. He said that using local currencies could help reduce dependence on foreign currencies, stabilize trade flows and open the door for deeper institutional coordination between the two countries. "I see that partial trade exchange between the two countries in their national currencies is necessary, and that it's time to swap debt for development, as China spares no effort to strengthen relations with Egypt, which it sees as a trusted friend," Helmy said. China and Egypt officially elevated their ties to a comprehensive strategic partnership in 2014, deepening bilateral relations across politics, trade, infrastructure, technology, and cultural exchange. Major China-Egypt projects under BRI and Egypt's Vision 2030 include the Central Business District in Egypt's New Administrative Capital and the China-Egypt TEDA Suez Economic and Trade Cooperation Zone -- an industrial cooperation model hosting 185 companies. Chinese companies have also contributed to projects like the Benban Solar Park in Aswan Province, among the world's largest, along with infrastructure in construction, manufacturing, transport and energy. "China's journey from traditional industry to high tech is a model for Egypt. We can benefit not just from Chinese investment, but from its expertise in technology, manufacturing and innovation," said Salah El-Din Fahmy, professor of economics at Al-Azhar University. SOUTH-SOUTH COOPERATION The China-Egypt partnership goes beyond the scope of economy, with officials and experts highlighting how the two countries are strengthening political coordination and amplifying the Global South's voice on key international issues. Helmy underlined the political side of the partnership, noting China supports Egypt and the Arab world on issues including the Palestinian cause, while Egypt and Arab states back China on core interests like the one-China principle and maritime rights. "This is a model of South-South cooperation across economic and political lines, reflecting the principle of a community of a shared future and the conviction that tensions and wars are not solutions but part of the problem," the expert said. In the coming years, coordination between the two countries "is essential to face global challenges, including climate change, maritime trade routes, supply chain risks, and geopolitical tensions," he added. Regarding the importance of the BRI for Egypt, Fahmy said that Egypt's geographic position makes it a gateway connecting Asia, Africa and Europe, offering a strategic platform within China's broader South-South development vision. Looking ahead, experts see the China-Egypt partnership as more than a bilateral success story -- it's part of a shift toward a balanced, multipolar world where emerging economies play a stronger role in global development. "Egypt-China cooperation is entering a new qualitative phase, helping elevate both nations and offer a stronger voice for the Global South on the international stage," Fahmy said.
Al-Ahram Weekly
11-07-2025
- Business
- Al-Ahram Weekly
Egypt seeks greater access to Chinese markets amid trade gap: PM Madbouly - Economy
Prime Minister Mostafa Madbouly stressed Thursday the need to address the trade imbalance between Egypt and China, calling for increased access for Egyptian exports to the Chinese market. According to the Chinese Foreign Ministry, the trade balance between Egypt and China in 2024 amounted to $17.378 billion. However, the ministry noted that the balance tilts sharply towards China, whose exports to Egypt in 2024 constituted 96 percent ($16.8 billion) of the trade balance as opposed to Egyptian exports, which comprised just 3.3 percent ($578 million). Madbouly's remarks came during a meeting in Cairo with his Chinese counterpart Li Qiang to discuss strengthening cooperation in various fields further. The Egyptian FM emphasised the high quality of Egyptian products and their strong presence in global markets in North America, Latin America, Europe, and Africa. According to the Egyptian cabinet, he also said he looked forward to seeing specific Chinese industries move their operations to Egypt to enhance local production of finished goods rather than fully importing them from China. Furthermore, Madbouly affirmed that the state stands ready to provide Chinese firms looking to set up manufacturing in Egypt with every form of support. He also hoped that Chinese companies and institutions in Egypt would expand their investments, benefiting from Egypt's free trade agreements with Arab countries, Africa, and Europe. Moreover, the Egyptian FM commended China's vital role in supporting Egypt's development efforts through Chinese companies' active involvement in implementing major national projects in Egypt. He also expressed Egypt's desire to enter a new era of partnership with China focused on localising industrial production, transferring Chinese technology, and utilising China's strong capabilities in these fields. Egypt-China strategic partnership During the talks, Chinese PM Li Qiang noted that his country was keen on increasing Egyptian exports' presence in the Chinese market. He also noted that several measures have already been implemented in that respect. Furthermore, Qiang affirmed China's commitment to enhancing financial and investment ties with Egypt in several sectors, including renewable energy, manufacturing, artificial intelligence, and digital economy. He also expressed China's desire to broaden cultural, humanitarian, and media cooperation with Egypt. Praising Egypt's remarkable progress, Qiang said he had personally witnessed Egyptians' significant development efforts in recent years. "We are fully prepared to support Egypt's development in every possible way," the Chinese premier said. Similarly, Qiang highlight that 2024 marked a decade since Egypt and China upgraded their relations to a comprehensive strategic partnership. He also noted that 2026 will commemorate 70 years since the two nations established diplomatic ties. In addition, the two sides witnessed the signing of several agreements to enhance cooperation in various fields. According to the Egyptian State Information Service (SIS), China is Egypt's third-largest trading partner globally. The Chinese Foreign Ministry stated that in 2024, the trade volume between Egypt and China reached $2.68 billion in the first quarter of the 2024/2025 fiscal year. Middle East crises According to the Egyptian cabinet, Madbouly and Qiang also discussed several issues of mutual interest and current regional and international geopolitical challenges. They underscored the need, amidst much global uncertainty, for the international community to actively encourage all parties to conflicts to resolve disputes through dialogue and diplomatic channels. Addressing the war in Gaza, the Egyptian PM commended China's consistent support for the legitimate rights of the Palestinian people, particularly at regional and international platforms such as the UN and the Security Council. He reaffirmed Egypt's ongoing commitment to close coordination with China—both bilaterally and in multilateral settings—to back the Palestinian people's legitimate right to an independent state over June 1967 borders, with East Jerusalem as its capital. Furthermore, the two sides underlined the pressing need to mobilise international support for implementing the Arab-Islamic plan for early recovery and reconstruction of Gaza. The Chinese PM, for his part, lauded Egypt's deeply rooted civilisation and extolled its historical role as a strong and leading country that wields significant influence in the Arab world, the region, and Africa. On Wednesday, Chinese Prime Minister Li Qiang arrived in Cairo on an official visit to Egypt, the first to Africa since he assumed office, where he met President Abdel-Fattah El-Sisi, Prime Minister Mostafa Madbouly, and senior Egyptian officials. Follow us on: Facebook Instagram Whatsapp Short link:
Middle East
11-07-2025
- Business
- Middle East
OPEN// Egyptian PM, Chinese premier co-chair expanded session of talks
CAIRO, July 10 (MENA) - Prime Minister Mostafa Madbouli has affirmed that Egypt and China share strong historical ties, clearly reflected in the strong relationship between President Abdel Fattah El Sisi and Chinese President Xi Jinping. These distinguished relations are also evident in the regular high-level meetings between ministers and senior officials from both countries, he added. Madbouli's remarks came as he co-chaired with Chinese Premier Li Qiang, an expanded session of talks on Thursday at the cabinet headquarters in Egypt's New Administrative Capital. The session included discussions on several matters of mutual concern and explored ways to strengthen cooperation in various fields. Egyptian attendees included Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan El Khatib, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba, and Assistant Foreign Minister for Asia, Australia, New Zealand and the Pacific Islands Affairs Ahmed Shahin. Chinese attendees included Minister of Finance Lan Fo'an, Minister of Commerce Wang Wentao, Vice Foreign Minister Ma Zhaoxu, and Chinese Ambassador to Egypt Liao Liqiang. Describing the Chinese premier's visit to Egypt as 'historic', Madbouli praised the meeting held earlier in the day between President Abdel Fattah El Sisi and Chinese Premier Li Qiang, during which the Egyptian president reaffirmed Cairo's firm support for the "One China policy". The prime minister commended China's pivotal role in supporting Egypt's development efforts, particularly through the participation of numerous Chinese companies in key infrastructure projects in the country, such as the Central Business District in the New Administrative Capital, the New Alamein City Towers, the light rail transit (LRT) project, as well as the development of China's TEDA area in the Suez Canal Economic Zone (SCZone). The TEDA area is a successful model of Egypt-China investment cooperation in SCZone, he said, expressing hope for increased Chinese investment in the TEDA. Madbouli also voiced aspiration that the visit would mark the start of a new stage of bilateral cooperation, particularly in localizing industry, and transferring Chinese technology to Egypt especially as regards solar energy project components, localizing electric vehicle (EV) manufacturing, and seawater desalination. He highlighted President Sisi's directives to the Egyptian government to purchase part of EV production from the companies operating in Egypt. Given China's global leadership in EV manufacturing, the prime minister urged Chinese companies to establish operations in Egypt and take advantage of the incentives offered by the government. He further called on Chinese companies and institutions to boost their investments in Egypt, leveraging Egypt's memberships in free trade zones with Arab, African, and European countries. Madbouli also stressed the importance of addressing the trade imbalance between the two countries by expanding Egyptian exports to China. He noted that Egyptian products are of high quality and already reach markets in North America, Europe, Latin America, and Africa. Additionally, he expressed hope for accelerated work on phases 3 and 4 of the LRT project, and the completion of the Central Business District, particularly since Egyptian government institutions began moving to the New Administrative Capital in 2024. The prime minister expressed thanks to the Chinese side for signing an MoU on the debt-for-development swap program, which was inked on October 19, 2023 on the sidelines of the third Belt and Road Forum in Beijing. Regarding regional issues, Madbouli praised China's supportive role for the Palestinian people's legitimate rights in regional and international forums, particularly at the United Nations and its Security Council. He also stressed the importance of Egypt-China coordination within the framework of the Forum on China–Africa Cooperation (FOCAC) and in following up on the implementation of the outcomes of the forum's 9th conference, especially the 10 partnership actions unveiled by Chinese President Xi Jinping during the opening session of the latest FOCAC summit held in September 2024. He noted that Egypt had submitted a list of priority projects to benefit from $51 billion in financial packages allocated for these partnership actions. Meanwhile, Chinese Premier Li Qiang described Egypt as a nation with a rich civilization and one that is witnessing unprecedented modern development, noting that he personally witnessed the scale of development efforts made by Egyptians under the 'new republic'. He affirmed that Egypt is a powerful and influential country in its regional, Arab, and African environments. Li also pointed out that 2024 marked the 10th anniversary of the elevation of Egypt-China relations to a comprehensive strategic partnership, and that 2026 will mark 70 years of diplomatic relations between the two countries. He noted that during his visit, he had seen Egypt's strong desire to strengthen bilateral ties, stating that Beijing also places high priority on enhancing its relations with Egypt. He further reiterated China's interest in fostering investment cooperation with Egypt in various sectors, including renewable energy, industry, artificial intelligence, digital economy, as well as the financial sector. Li highlighted China's efforts to increase Egyptian exports' access to the Chinese market, noting that significant measures have already been taken in this regard. He also expressed hope for expanding cultural, humanitarian and media cooperation with Egypt. (MENA) I S N/M R E
Al-Ahram Weekly
10-07-2025
- Business
- Al-Ahram Weekly
El-Sisi affirms Egypt's commitment to boosting China partnership - Foreign Affairs
President Abdel-Fattah El-Sisi affirmed Thursday Egypt's commitment to activating its comprehensive strategic partnership with China and enhancing bilateral cooperation in various areas of mutual interest. El-Sisi's remarks came during his meeting with Chinese Prime Minister Li Qiang in Cairo. The meeting was attended by Prime Minister Mostafa Madbouly and several ministers and senior officials from both sides. According to the Egyptian presidency, El-Sisi pointed to the upcoming 70th anniversary of Egypt-China diplomatic relations in 2026. For his part, Premier Li expressed China's pride in having close bilateral relations with Egypt, which are founded on a long history of strategic partnership, mutual respect, and common interests. Egypt-China economic ties During the meeting, President El-Sisi lauded the contributions of Chinese companies to development projects in Egypt, the presidential statement said. He expressed the country's interest in attracting more Chinese investments, particularly in the sectors of new and renewable energy and electric vehicle manufacturing. El-Sisi also underscored the importance of increasing Chinese tourism and strengthening cooperation in the manufacturing and development fields in general. He expressed Egypt's keenness in continuing coordination with China on the issue of debt swaps and the effective implementation of related agreements. He also noted the rapid development in coordination between Egypt and China on both regional and international levels, appreciating Cairo's pivotal role as a cornerstone of stability in the Middle East. According to China's state news agency, Xinhua, Li affirmed that China is willing to strengthen Belt and Road cooperation with Egypt in various areas and encourage more capable Chinese enterprises to invest in Egypt. He added that China will collaborate with Egypt to advance the stable and long-term progress of China-Arab and China-Africa partnerships. The Chinese PM further emphasised his country's keenness to enhance coordination and communication with Egypt within multilateral platforms including the UN, BRICS and the Shanghai Cooperation Organisation, Xinhua reported. Middle East crises According to the Egyptian presidency, both sides also discussed the latest regional and international developments. They emphasised the importance of maintaining the ceasefire agreement between Israel and Iran, and resuming the diplomatic path to resolve the crisis through peaceful means. EL-Sisi and Li also stressed the necessity of reaching a ceasefire in Gaza, ensuring the immediate delivery of humanitarian aid, and achieving a just and comprehensive solution to the Palestinian cause. For his side, the Chinese Premier said that Beijing stands ready to maintain close communication with Egypt, promote a ceasefire in Gaza and alleviate the humanitarian crisis. On Wednesday, Li arrived in Cairo on an official visit at the invitation of PM Madbouly. The Chinese PM's visit comes amid growing collaboration with Egypt. According to the Egyptian State Information Service (SIS), China is Egypt's third largest trading partner globally, with bilateral trade reaching $2.68 billion in the first quarter of the 2024/2025 fiscal year. In 2024, trade volume between China and Egypt reached $17.378 billion, according to the Chinese foreign ministry. Follow us on: Facebook Instagram Whatsapp Short link:
