Egypt’s Finance Minister Ahmed Kouchouk has stressed the importance of strengthening financial cooperation with China to diversify resources, ensure financial stability and promote home income.
Kouchouk stressed the importance of deepening bilateral financial and economic cooperation to achieve development goals.
During his meeting with Chinese Finance Minister Lan Fuan, Kouchouk said that Egypt became one of the first African countries to enter the Chinese market with the support of the Chinese Ministry of Finance and the People’s Bank of China.
“We aim to strengthen financing and investment partnerships, enter into promising bilateral alliances, and increase Chinese foreign direct investment in manufacturing, logistics, and port management.”
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Kouchouk added that the government is working to promote greater economic development, infrastructure and renewable energy, as well as employment in the region. He added that the Suez Canal Economic Zone is an important place for Chinese companies to do business in Egypt.
Egypt aims to strengthen trade and economic cooperation, establish bilateral cooperation agreements, and promote Chinese foreign direct investment in manufacturing, technology logistics services, and port management.
Egypt is a partner in the Belt and Road Initiative and has helped promote regional trade and improve connectivity and cooperation between countries.
Chinese companies may consider investing in sustainable areas such as agriculture, desalination, and healthcare. This could improve Egypt’s trade balance by increasing its exports to China and attracting more tourists to Egypt.
