CAIRO, July 10 (MENA) - Prime Minister Mostafa Madbouli has affirmed that Egypt and China share strong historical ties, clearly reflected in the strong relationship between President Abdel Fattah El Sisi and Chinese President Xi Jinping.

These distinguished relations are also evident in the regular high-level meetings between ministers and senior officials from both countries, he added.

Madbouli's remarks came as he co-chaired with Chinese Premier Li Qiang, an expanded session of talks on Thursday at the cabinet headquarters in Egypt's New Administrative Capital.

The session included discussions on several matters of mutual concern and explored ways to strengthen cooperation in various fields.

Egyptian attendees included Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, Minister of Investment and Foreign Trade Hassan El Khatib, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba, and Assistant Foreign Minister for Asia, Australia, New Zealand and the Pacific Islands Affairs Ahmed Shahin.

Chinese attendees included Minister of Finance Lan Fo'an, Minister of Commerce Wang Wentao, Vice Foreign Minister Ma Zhaoxu, and Chinese Ambassador to Egypt Liao Liqiang.

Describing the Chinese premier's visit to Egypt as “historic”, Madbouli praised the meeting held earlier in the day between President Abdel Fattah El Sisi and Chinese Premier Li Qiang, during which the Egyptian president reaffirmed Cairo’s firm support for the "One China policy".

The prime minister commended China's pivotal role in supporting Egypt’s development efforts, particularly through the participation of numerous Chinese companies in key infrastructure projects in the country, such as the Central Business District in the New Administrative Capital, the New Alamein City Towers, the light rail transit (LRT) project, as well as the development of China’s TEDA area in the Suez Canal Economic Zone (SCZone).

The TEDA area is a successful model of Egypt-China investment cooperation in SCZone, he said, expressing hope for increased Chinese investment in the TEDA.

Madbouli also voiced aspiration that the visit would mark the start of a new stage of bilateral cooperation, particularly in localizing industry, and transferring Chinese technology to Egypt especially as regards solar energy project components, localizing electric vehicle (EV) manufacturing, and seawater desalination.

He highlighted President Sisi's directives to the Egyptian government to purchase part of EV production from the companies operating in Egypt.

Given China's global leadership in EV manufacturing, the prime minister urged Chinese companies to establish operations in Egypt and take advantage of the incentives offered by the government.

He further called on Chinese companies and institutions to boost their investments in Egypt, leveraging Egypt's memberships in free trade zones with Arab, African, and European countries.

Madbouli also stressed the importance of addressing the trade imbalance between the two countries by expanding Egyptian exports to China. He noted that Egyptian products are of high quality and already reach markets in North America, Europe, Latin America, and Africa.

Additionally, he expressed hope for accelerated work on phases 3 and 4 of the LRT project, and the completion of the Central Business District, particularly since Egyptian government institutions began moving to the New Administrative Capital in 2024.

The prime minister expressed thanks to the Chinese side for signing an MoU on the debt-for-development swap program, which was inked on October 19, 2023 on the sidelines of the third Belt and Road Forum in Beijing.

Regarding regional issues, Madbouli praised China's supportive role for the Palestinian people’s legitimate rights in regional and international forums, particularly at the United Nations and its Security Council.

He also stressed the importance of Egypt-China coordination within the framework of the Forum on China–Africa Cooperation (FOCAC) and in following up on the implementation of the outcomes of the forum’s 9th conference, especially the 10 partnership actions unveiled by Chinese President Xi Jinping during the opening session of the latest FOCAC summit held in September 2024.

He noted that Egypt had submitted a list of priority projects to benefit from $51 billion in financial packages allocated for these partnership actions.

Meanwhile, Chinese Premier Li Qiang described Egypt as a nation with a rich civilization and one that is witnessing unprecedented modern development, noting that he personally witnessed the scale of development efforts made by Egyptians under the “new republic”.

He affirmed that Egypt is a powerful and influential country in its regional, Arab, and African environments.

Li also pointed out that 2024 marked the 10th anniversary of the elevation of Egypt-China relations to a comprehensive strategic partnership, and that 2026 will mark 70 years of diplomatic relations between the two countries.

He noted that during his visit, he had seen Egypt's strong desire to strengthen bilateral ties, stating that Beijing also places high priority on enhancing its relations with Egypt.

He further reiterated China's interest in fostering investment cooperation with Egypt in various sectors, including renewable energy, industry, artificial intelligence, digital economy, as well as the financial sector.

Li highlighted China's efforts to increase Egyptian exports’ access to the Chinese market, noting that significant measures have already been taken in this regard.

He also expressed hope for expanding cultural, humanitarian and media cooperation with Egypt. (MENA)

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