Cairo: Minister of Investment and Foreign Trade Mohamed Farid Saleh met on Friday, August 7, 2026, with Li Chenggang, China's Vice Minister of Commerce, to mark 70 years of diplomatic ties. The meeting was part of the 16th BRICS Trade Ministers' Meeting in Jaipur, India, as Cairo seeks to expand its global trade footprint and attract new investment.

According to State Information Service Egypt, the talks reviewed preparations for Chinese President Xi Jinping's upcoming visit to Egypt, during which new memorandums of understanding are expected to be signed. China confirmed the rollout of full tariff exemptions for African imports from May 2026, with Egypt aiming to maximize benefits under the AfCFTA framework.

Li Chenggang invited Egyptian firms to join the China International Fair for Investment and Trade (CIFIT) in Xiamen, while reaffirming support for Egypt's participation in the China International Import Expo (CIIE). The investment minister outlined opportunities for Chinese investment in Egypt's textile sector, particularly the revamp of Misr Spinning and Weaving Company in Mahalla, backed by Egypt's sovereign wealth fund.

Egypt-China trade hit $19.52 billion in 2025, underscoring the depth of ties. The Egyptian official stated that the next phase will focus on value-added exports, local manufacturing, and supply chain integration, reinforcing Egypt's role as a regional trade hub.