Cairo: Prime Minister Mostafa Madbouly said that Egypt has gained international credibility through a balanced foreign policy that puts national interests first while seeking to avoid involvement in conflicts around the world.
According to State Information Service Egypt, in his remarks at a press conference following the government's weekly meeting, Madbouly emphasized that under President Abdel Fattah El Sisi, Egypt has pursued a moderate approach to foreign policy and remains committed to the positions it announces. He stated that Egypt's consistent handling of international issues has earned the country and its political leadership respect abroad, as evidenced by visits from senior international officials, reflecting its international standing.
Madbouly highlighted Chinese President Xi Jinping's visit to Egypt as the two nations marked 70 years of diplomatic relations. He explained that relations between Egypt and China have developed significantly over the decades, evolving into a comprehensive strategic partnership in 2014. Trade between the two countries has reached approximately $20 billion, with Chinese companies announcing $12 billion in investments in Egypt last year. These investments underscore the importance of economic ties between Cairo and Beijing.
The Prime Minister noted that Xi's visit was aimed at bolstering the strategic partnership and expanding economic cooperation. He revealed that investments in the Chinese-developed TEDA zone within the Suez Canal Economic Zone have surpassed $4 billion, providing over 10,000 jobs for Egyptians through more than 200 companies. During Xi's visit, several agreements and joint projects were established between Egyptian and Chinese companies, including the launch of the third phase of TEDA projects.
Agreements also included significant projects like an advanced automotive tire manufacturing complex and cooperation in telecommunications and information technology. Madbouly reiterated that the growing economic partnership with China reflects Egypt's strategy of expanding relations with countries around the world while safeguarding its national interests.
On the domestic economic front, Madbouly reported that Egypt recorded a growth rate of 4.7% in the fourth quarter of the fiscal year 2025/26, despite concerns about the potential impact of the US-Iran war on economic activity. For the full fiscal year 2025/26, Egypt's economy grew by 5.1%, surpassing forecasts by international institutions. He further highlighted that the industrial sector recorded the highest growth rates among economic sectors, with Suez Canal activity increasing by about 33% compared to the previous year, and noted the continued rapid expansion of the communications and information technology sector.