China and Egypt economic cooperation of great importance: Ambassador

Enhancing China and Egypt economic cooperation and investment is very important and has a direct impact on the wellbeing of people and prosperity for both countries, said the Egyptian ambassador to China in Beijing on August 31.

Egypt has a set of new policies to encourage investment, and there is a growing Chinese interest in investment in Egypt in different sectors, said Assem Hanafi, Egyptian ambassador to China.

Hossam Heiba, president of the Egyptian General Authority for Investment & Free Zones, echoed Hanafi's opinion and said Egypt and China have been trade and investment partners for such a long time thanks to the very strong political relationship between the two countries.

It has been crowned by the invitation and approval to join BRICS, which will open a completely different horizon of investment, business and trade between Egypt and China.

"We believe that both countries can benefit from the experiences and resources that they both have," said Heiba, adding that energy will be a major sector Egypt will focus on for bilateral cooperation, together with manufacturing, chemicals, electronics and agricultural sectors.

Heiba has been amazed by the high-quality development of China and considers it definitely something Egypt is looking forward to replicating by taking the development China has experienced in the past years to Egypt.