Rédaction Africa Links 24 with Egypt Independent
Published on 2024-03-02 10:59:29
Egyptian media reports have recently highlighted discussions held by Minister of Trade and Industry Ahmed Samir regarding the establishment of a significant Chinese industrial zone on the Mediterranean coast. This project is designed to cater to the requirements of the local market while also focusing on exports to European and American markets.
During the discussions, Minister Samir also explored the possibility of settling commercial transactions in the local currencies of both Egypt and China. Additionally, there was talk of establishing a branch of a Chinese bank within Egypt in collaboration with the relevant Chinese authorities. This move is expected to streamline trade exchanges between the two nations and facilitate smoother financial transactions.
Minister Samir engaged in an extensive discussion session with Chinese Minister of Commerce, Wang Wentao, and his accompanying delegation. The aim was to identify opportunities for enhancing cooperation across economic, investment, and trade sectors between Egypt and China. The meeting underscored a mutual interest in strengthening bilateral relations within the framework of a comprehensive strategic partnership.
It was also reiterated that Egypt is keen on convening the ninth session of the Joint Economic, Commercial, and Technical Cooperation Committee with China. The last session took place in October 2021. Furthermore, plans were discussed for organizing the inaugural meeting of the trade facilitation group to diversify Egyptian exports, facilitate access to agricultural products, and explore opportunities to increase the penetration of Egyptian goods into the Chinese markets.
Egypt and China share a longstanding strategic relationship that serves as a cornerstone for bolstering economic, trade, and investment ties between the two countries. Minister Samir stressed Egypt’s commitment to nurturing and enhancing cooperation with Beijing, aiming to elevate it to new heights in the coming years, building on the strong foundation of existing relations.
In conclusion, the discussions between Minister Samir and his Chinese counterpart underscored a shared commitment to deepening collaboration in various sectors. The establishment of a Chinese industrial zone in Egypt, the potential settlement of transactions in local currencies, and the proposed opening of a Chinese bank branch in Egypt are all indicative of the mutual desire to strengthen economic ties and promote trade between the two nations. As Egypt and China continue to explore opportunities for cooperation, the future looks promising for further enhancing bilateral relations and fostering mutual prosperity.
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