Latest news with #ForumonChina–AfricaCooperation
See - Sada Elbalad
20-05-2025
- Business
- See - Sada Elbalad
Egypt, China Deepen Strategic Partnership in High-Level Talks
H-Tayea On Tuesday, Egypt's Prime Minister Mostafa Madbouly received Li Shulei, Member of the Political Bureau and Secretary of the Secretariat of the Communist Party of China (CPC), in Cairo, alongside a senior Chinese delegation. The meeting marked a renewed commitment to deepening the strategic partnership between Egypt and China across political, economic, and cultural dimensions. The Prime Minister welcomed the high-level Chinese delegation at the government headquarters in Egypt's New Administrative Capital and reaffirmed Egypt's appreciation for the longstanding and historic ties between the two nations. He described the visit as a reflection of the strength of bilateral relations, which have seen remarkable growth over the past decade since their elevation to a comprehensive strategic partnership. Dr. Madbouly highlighted Egypt's interest in attracting a portion of the $52 billion in Chinese investments pledged to Africa during the Forum on China–Africa Cooperation (FOCAC), calling for a specific focus on directing Chinese capital toward Egyptian development projects. He praised the contributions of Chinese companies in infrastructure, high-speed rail, port development, and the business district of the New Capital, and emphasized the government's ambition to welcome further investment in Egypt's industrial and technological sectors. The Prime Minister also pointed to the Suez Canal Economic Zone as a key area for Chinese industrial relocation, especially in fields such as electric vehicles and mobile phone manufacturing. He called for stronger cooperation in localizing industries and technology transfer, noting Egypt's strategic geographic position and regional market access. Dr. Madbouly reaffirmed Egypt's support for the One-China policy and commended China's principled position on non-interference in the internal affairs of other countries. He expressed optimism about President Xi Jinping's anticipated visit to Egypt, which he said would be a milestone in advancing bilateral cooperation. On cultural ties, the Prime Minister voiced Egypt's desire to boost Chinese tourism and promote cultural exchange. He noted that Chinese citizens are now eligible for visas upon arrival at Egyptian airports and called for expanded direct flight routes to strengthen tourism between the two countries. Li Shulei, representing the CPC leadership, conveyed greetings from the Chinese Prime Minister and commended Egypt's political, economic, and social achievements over the past decade. He remarked on the transformation of Cairo and Alexandria since his previous visit 20 years ago and praised Egypt's preservation of its historical and architectural heritage. Li emphasized the shared civilizational depth of both nations and reiterated China's interest in advancing cooperation with Egypt in tourism, culture, media, and heritage preservation. He pledged to encourage Chinese media to promote Egypt's rich history and culture, contributing to increased tourism from China. He also voiced China's eagerness to partner with Egypt on the preservation of antiquities and historical sites. Li affirmed that many Chinese investors are genuinely interested in entering the Egyptian market and that the Chinese government is committed to expanding cooperation with Egypt in ways that support both countries' development goals. The meeting concluded with a shared commitment to enhance cooperation across strategic sectors and to translate the historical bonds between Egypt and China into greater economic integration, cultural exchange, and mutual development. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Zawya
15-04-2025
- Business
- Zawya
China's Befar Group breaks ground on $500mln chlor-alkali project in Egypt
Chinese chemical giant Befar Group (Binhua) has broken ground on a $500 million chlor-alkali project in Egypt's Sokhna Industrial Zone The project, located within TEDA-Egypt's industrial park, will have a total production capacity of 100,000 tonnes, SCZONE said in a press statement. The statement said the project is being developed in two phases, each covering 200,000 square metres (sqm), with $300 million allocated to the first phase and $200 million to the second. Construction for the first phase is expected to be completed within 18 months. According to the statement, the facility is set to become Egypt's first green chemical plant, relying on a mix of wind and solar energy, electricity, and natural gas to generate steam for operations. Waleid Gamal El-Dien, Chairman of SCZONE said the project is expected to create around 800 jobs and will contribute to import substitution and the localisation of strategic industries. 'This project is part of an integrated system for mineral extraction from seawater, including the production of bromine and other supporting and feeder industries,' he added. Yinghui Cai, Vice President, Befar Group praised the support from SCZONE, TEDA-Egypt, and project partners, noting that the group currently exports to more than 100 countries and holds leading positions in the Chinese market for products such as allyl chloride, trichloroethylene, and caustic soda. The project agreement was signed during SCZONE's investment promotion tour on the sidelines of the Forum on China–Africa Cooperation (FOCAC) in September 2024. (Writing by Eman Hamed; Editing by Anoop Menon) (
