China, Egypt explore new growth drivers for investment cooperation at forum

Chinese, Egyptian officials and business leaders met in Cairo for the first China-Egypt Investment Forum to deepen bilateral cooperation and jointly seek new growth drivers in areas such as textiles, new energy and the digital economy.

CAIRO, Nov. 10 (Xinhua) -- Chinese and Egyptian senior officials, business leaders and investors convened on Sunday at the first China-Egypt Investment Forum in Cairo to explore new growth drivers for investment cooperation.

During the forum, Hassan El-Khatib, Egyptian minister of investment and foreign trade, affirmed the country's commitment to expanding bilateral cooperation in investment and trade into broader areas.

Egypt seeks balanced trade and investment relations through attracting more Chinese investments and expanding the base of joint production for export, said El-Khatib.

For his part, Ling Ji, vice minister of commerce and deputy China international trade representative, noted that China has remained Egypt's largest trading partner for 13 consecutive years, with the China-Egypt TEDA Suez Economic and Trade Cooperation Zone having attracted nearly 200 enterprises.

It is hoped that China and Egypt remain important friends and reliable partners on the path of development, working together to promote the steady and healthy growth of investment cooperation for the benefit of both peoples, he said.

Noting that China is currently among the most active and fastest-growing investors in Egypt, Chinese Ambassador to Egypt Liao Liqiang said that the China-proposed Belt and Road Initiative is closely aligned with Egypt's Vision 2030, which has led to fruitful results in practical cooperation between the two sides.

"Today, more than 100 Chinese entrepreneurs are here, bringing with them cutting-edge technology, advanced manufacturing capacity, and a strong desire for cooperation," he said. "We also welcome Egyptian enterprises to go to China and look for opportunities."

Organized by the Chinese Embassy in Cairo, Egypt's General Authority for Investment and Free Zones, and the Egyptian Businessmen's Association, the event aimed to build a platform for communication and coordination, and jointly explore new growth drivers for investment cooperation.

Bringing together over 200 Chinese and Egyptian enterprises, it featured a series of presentations and panel discussions, including sub-forums on cooperation in the fields of textile, new energy and the digital economy.■