Finance Minister Ahmed Kouchouk said on Wednesday 25/9/2024 that Egypt is looking forward to enhancing cooperation with China, particularly in terms of partnerships with the private sector.

Kouchouk had talks with his Chinese counterpart Lan Fo’an on the sidelines of meetings of the Asian Infrastructure Investment Bank (AIIB) in Uzbekistan to discuss ways to confront global economic challenges.

He said his ministry is keen on boosting financial cooperation with China to diversify the sources of finance, guarantee financial sustainability and mobilize local revenues.

Egypt, he added, was among the first African countries that tapped the Chinese market with strong support from the Chinese finance ministry and central bank.

Kouchouk also talked about the successful issuance of the Panda bonds, noting that this will positively help African countries reach the Asian money markets through China.

Cairo is seeking to increase Chinese direct foreign investments in manufacturing, logistics services and port manag
ement, Kouchouk told LAN.

He pointed to a strong presence of Chinese companies at the Suez Canal Economic Zone (SCZONE), noting that Egypt is a strategic partner in the Belt and Road Initiative.

Source: State Information Service Egypt