Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib inaugurated Egypt-China Investment Forum on Sunday, underscoring deep economic ties between the two countries and efforts to expand trade and investment. The forum reflects the strength of bilateral relations and the shared commitment to boost economic cooperation in investment and trade, El-Khatib said. He highlighted that 2,800 Chinese companies are active in Egypt, investing over $8 billion, while bilateral trade reached $16 billion in 2024. El-Khatib said the next phase of cooperation aims to balance trade further by attracting additional Chinese investment and expanding joint production for export, supporting local manufacturing, value addition, and access to regional and international markets. Major joint projects cited include the TEDA industrial zone in the Suez Canal Economic Zone (SCZONE), along with contributions from Haier and Midea, which have bolstered local production and exports. Chinese companies also participated early in Egypt's New Capital, New Alamein City, and the high-speed electric train project, highlighting China's strategic role in Egypt's development. China's Vice Minister of Commerce Ling Ji said his country is committed to expanding trade with Egypt, particularly in high-tech and value-added products, reflecting the growing depth of economic ties. El-Khatib also emphasised Egypt's advantages as a hub for manufacturing and exports, citing its strategic location connecting three continents, modern infrastructure, skilled workforce, and network of free trade agreements. The forum was attended by Chinese Ambassador to Egypt, Liao Liqiang, members of the Egyptian Businessmen Association, and executives from leading Egyptian and Chinese companies in industry, energy, infrastructure, and technology. Attribution: Amwal Al Ghad English
