According to “Daily News Egypt,” Finance Minister Ahmed Kouchouk met with his Chinese counterpart, Lan Fo’an, during the Asian Infrastructure Investment Bank (AIIB) meetings in Uzbekistan to discuss expanding investment cooperation between the two nations.
Kouchouk emphasized the importance of deepening bilateral financial and economic relations to achieve mutual development goals, stating, “We will continue to work together to deepen bilateral financial and economic relations and achieve shared development goals.”
He underscored the need to enhance financial cooperation to secure diverse funding sources, financial sustainability, and the mobilization of domestic revenues. Kouchouk highlighted that Egypt was among the first African countries to access Chinese markets, benefiting from strong support from the Chinese Ministry of Finance and the People’s Bank of China.
He also pointed to Egypt’s success in issuing Panda Bonds, which he believes will pave the way for broader access to Asian capital markets for African nations through China’s financial markets. “We look forward to greater cooperation with the Chinese side in attracting investments, especially partnerships with the Egyptian private sector,” Kouchouk said.
He added that Egypt aims to strengthen financing and investment partnerships, form promising bilateral alliances, and increase Chinese foreign direct investment in sectors like manufacturing, logistics, and port management. The government is also focused on attracting more industrial development, infrastructure, renewable energy projects, and technology localization. Kouchouk highlighted the Suez Canal Economic Zone as a key hub for Chinese companies in Egypt.
“Egypt is a strategic partner in the Belt and Road Initiative, which contributes to facilitating regional trade, improving connectivity, and promoting wide-scale cooperation across continents,” Kouchouk said. He noted the competitive opportunities for Chinese companies in sustainable sectors such as agriculture, desalination, and healthcare, which can help improve the trade balance by boosting Egyptian exports to China and attracting more Chinese tourists to Egypt.
