China willing to ramp up economic partnership with Egypt, encourage Chinese companies to invest in emerging fields: Commerce Minister

China is committed to propelling economic and trade cooperation with Egypt, supporting Chinese enterprises to invest in the country, particularly in the emerging fields, Chinese Commerce Minister Wang Wentao said at a meeting with Egyptian Prime Minister Mostafa Madbouly.

During the meeting on Wednesday, Wang said that China is willing to enhance China-Egypt economic and trade cooperation. He highlighted the potential for collaboration in emerging sectors such as information and telecommunication technology, smart cities, e-commerce, green development, and high-tech industries.

Wang noted the continuous expansion of China-Egypt relations and the high level of bilateral economic and trade cooperation. He stated that China's modernization offers vast opportunities for other economies, including Egypt, and China welcomed Egypt's active participation in the high-quality construction of the Belt and Road Initiative (BRI).

Madbouly acknowledged the long-standing friendship between Egypt and China and thanked China for its valuable support over the years. He looked forward to the development in the relations between the two countries in various fields, including economy and trade. Egypt is keen to continue participating in BRI cooperation and welcomes Chinese enterprises to invest in Egypt.

Wang emphasized the importance of close communication and cooperation between China and Egypt within the frameworks of China-Arab and China-Africa cooperation.

Following the meeting, Wang and Egyptian Minister of International Cooperation Rania Al-Mashat signed a handover certificate for a project to support Egypt's satellite assembly and testing.

Egypt is an important trading partner for China in Africa. According to the General Administration of Customs, China-Egypt bilateral trade reached 111.2 billion yuan ($15.5 billion) in 2023.

Wang's visit is among the latest developments in China-Africa cooperation. On Wednesday, China and the Republic of Sierra Leone signed a joint statement on deepening their comprehensive strategic cooperative partnership, As Sierra Leone's President Julius Maada Bio is on a state visit to China from Tuesday to Saturday, highlighting the ongoing engagement between China and African nations.