Cairo: Egyptian Prime Minister Dr. Mostafa Madbouly and Chinese Premier Li Qiang chaired an expanded round of talks in Cairo to discuss avenues for strengthening cooperation in the domains of economy, investment, industry, and renewable energy.
According to Bahrain News Agency, Dr. Madbouly reiterated Egypt's commitment to enhancing economic and investment relations with China, underscoring the historical and close ties between the two countries and the strong coordination between their leaderships.
Madbouly commended the development projects undertaken by Chinese companies in Egypt, including the Central Business District in the New Administrative Capital, the Alamein Towers, and the light rail project. He also noted the Chinese operated TEDA industrial zone in the Suez Canal area and expressed interest in increasing Chinese investments in this zone.
He called on Chinese companies to localise industries such as electric vehicles, solar energy components, and water desalination, emphasising the Egyptian government's commitment to providing incentives and support for these sectors.
Premier Li expressed appreciation for his visit to Egypt and underscored Beijing's interest in enhancing cooperation in renewable energy, industry, artificial intelligence, and the digital economy, in addition to expanding Egyptian exports to China.
Both sides also highlighted the importance of cooperation within the framework of the Forum on China-Africa Cooperation, with an emphasis on implementing priority projects worth $51 billion and supporting sustainable development through innovative financing mechanisms, such as debt swap programmes and yuan denominated 'Panda' bonds.