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China and Egypt discuss major upcoming projects

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Chinese Ambassador to Cairo Liao Liqiang expressed Beijing’s confidence in Egypt’s ability to overcome the current challenges and maintain social stability and economic development.

The ambassador said in an exclusive interview with the Middle East News Agency that Egypt was able to cope with the coronavirus pandemic and maintain positive economic growth thanks to the measures taken by the Egyptian government, adding that Egypt’s macroeconomic indicators show signs of improvement. as the economic growth rate reached 6.6% during the fiscal year 2021 and 2022.

Liqiang stressed the all-encompassing strategic nature of Egypt-China relations and that practical cooperation has reached a historic leap as China has been Egypt’s largest trading partner for nine consecutive years and is one of the largest and fastest growing investors in the country. He noted that the meeting between Presidents Abdel Fattah el-Sisi and Xi Jinping on the sidelines of the first Sino-Arab Summit in December last year infused new blood to strengthen mutual political trust, expand areas of mutually beneficial cooperation, and chart the path for the future of Sino-Egyptian relations.

He explained that Beijing is interested in working with Egypt to create a community of common future between the two countries and with Arab countries, and to improve coordination for the implementation of the “nine projects” under the China-Africa Cooperation Forum. “eight joint actions” for Sino-Arab practical cooperation and deepening cooperation in the construction of the “Belt and Road”, as well as promoting the completion of the railway project in the city of the 10th Ramadan and the central business district in the new administrative capital. on time, as well as major cooperation projects under the China-Egyptian Economic and Trade Cooperation (TEDA) in Suez.

He stated that Beijing is interested in importing more high-quality Egyptian products, expanding cooperation in investment and financing, moving towards green energy, green industry, low-carbon technologies and space, and finding new areas of cooperation, noting that China has included Egypt in the list the first batch of foreign tourist destinations for Chinese citizens, expressing confidence that the number of Chinese tourists will increase in the future.
In terms of investment, Liqiang said that China invested $560 million in Egypt in fiscal year 2021-22, up 16 percent from last year, accounting for 6.3 percent of Egypt’s net foreign capital inflow.

He explained that Chinese companies are focusing their investments in the sectors of oil and gas, services, manufacturing, construction and information technology, and that large Chinese companies such as Xinbok, Jushi for fiberglass, Chenhua for oil, and ” The New Hope Group has a large investment.. highlighting that the area (TEDA) in Suez is a model project for cooperation in the construction of the “Belt and Road” and has become the best industrial park in Egypt in terms of integrated environment, investment, productivity and the number of Chinese companies.

The Ambassador noted that the projects of the Ecopark, the OPPO mobile phone factory and the region’s third phase (TEDA) are progressing rapidly and ahead of schedule, expressing confidence that Chinese investment will increase in the future, and that more Chinese companies are choosing Egypt in as a preferred direction for investment.

He stressed that China has no vested interest in the Middle East, respects the status of its countries, opposes geopolitical competition in the region, and does not intend to fill the so-called “vacuum” or form a narrow, closed one. He pointed to China’s desire to strengthen coordination with Egypt, since it is an important country in the region, and to cooperate with it in order to strengthen security and stability, achieve development and prosperity, and strengthen solidarity and cooperation in the Middle East region. .
He noted that China has recently succeeded in mediating dialogue between Saudi Arabia and Iran, resulting in results that not only contribute to improving relations between the two countries, but also represent an important model for strengthening solidarity and cooperation between countries in the region. and easing tensions, and China’s mediation has been widely recognized by the international community.

Regarding culture, Liqiang said that Chinese Minister of Culture and Tourism Hu Heping, during his recent visit to Egypt, discussed with Prime Minister Mustafa Madbuli, Secretary General of the Arab League Ahmed Abul Gheit, Minister of Tourism and Antiquities Ahmed Issa and Minister of Culture Nevin Al -Kilani, ways to expand cooperation, and an important consensus was reached to deepen cooperation Egyptian-Chinese and Chinese-Arab cooperation in the field of culture and tourism.

He added that the Chinese minister attended the opening ceremony of the “Silk Road: Artists’ Meeting – An Exhibition of Creative Works of Eminent Chinese and Arab Artists” and a Dialogue Salon between Chinese and Arab Artists, and read a message from President Xi Jinping. to Arab artists, as the Arab and Chinese civilizations have been continuously recorded for thousands of years, these are beautiful historical stories of mutual benefit from the ancient Silk Road to cooperation in the construction of the “Belt and Road”.

Source: Middle East News Agency.

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