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14.03.24 08:31

Society

Representatives of Egypt and China discuss establishment of joint industrial zone

It will be located on the coast of the Mediterranean Sea

Egyptian Minister of Trade and Industry Ahmed Samir met with acting Chinese Ambassador to Cairo Zhang Tao to discuss the establishment of a Chinese industrial zone on the Mediterranean coast. This is reported by Daily News Egypt, a partner of TV BRICS.

It will feature both traditional and modern manufacturing. The project is designed to facilitate the transfer of expertise and advanced technology to Egyptian specialists. The growing interest of Chinese companies in setting up factories in Egypt emphasises the potential benefits of combining manufacturing operations in the space of a single plaza.

Samir emphasised that the opening of this zone will be Egypt's first project as a BRICS member. Significant investments are expected to be attracted to the Egyptian market in the near future.

The visit will aim at interacting with Chinese officials and promoting the establishment of an industrial zone, as well as exploring investment opportunities.

The minister emphasised the dynamic nature of Egyptian-Chinese relations, especially after Egypt's accession to BRICS and the ongoing development of the Chinese industrial zone in Ain Sokhna.

Zhang Tao expressed China's readiness to encourage further Chinese investment in Egypt and strengthen cooperation between Beijing and Cairo in all fields.

Photo: IStock

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Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

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Ferdinand Marcos

President of the Republic of the Philippines

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Anwar Ibrahim

Prime Minister of Malaysia

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Vladimir Putin

President of the Russian Federation

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Representatives of Egypt and China discuss establishment of joint industrial zone

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