Cairo: Minister Plenipotentiary for Commercial Affairs Dr. Abdel Aziz El-Sherif, First Undersecretary of the Ministry and Head of the Egyptian Commercial Service (ECS), highlighted Jiangsu Province's significance as a major industrial and investment hub in China. With a GDP of approximately USD 1.9 trillion, the province plays a crucial role in China's economy through its advanced manufacturing and technology industries, as well as its leadership in sectors like electronics, chemicals, heavy machinery, engines, and construction materials.
According to State Information Service Egypt, Dr. El-Sherif noted that Jiangsu hosts over 40 industrial zones and is a key contributor to Chinese overseas investments, which have surpassed USD 82 billion across more than 160 countries. Highlighting Jiangsu's strategic importance, he emphasized the need to boost cooperation with the Jiangsu Provincial Council to attract Chinese industrial investments to Egypt, particularly in sectors prioritized by the Egyptian government, such as new and renewable energy, feeder industries, and machinery and equipment manufacturing.
The ECS's Investment Promotion Department and Asia Affairs Department welcomed a delegation from the Jiangsu Provincial Council at the Service's headquarters in Egypt's New Administrative Capital. During the meeting, the Investment Promotion Department presented investment opportunities available in the Egyptian market and discussed potential areas for economic and trade cooperation. This dialogue occurs amid growing momentum and clear progress in Egyptian-Chinese relations across various fields.
Both parties underscored the importance of enhancing bilateral cooperation between Egypt and Jiangsu Province, especially given the increasing interest of Chinese companies in investing in Egypt. The ECS continues to host numerous Chinese governmental and business delegations each month, keen to explore investment opportunities in different sectors of the Egyptian market.
Mr. Ku Chao, Deputy Director of the Jiangsu Provincial Council, stated that this visit-marking the first of its kind to Egypt-aims to investigate the Egyptian market and identify new areas for potential Chinese investments, considering Egypt's competitive advantages and strategic geographic position in the region.
This meeting aligns with the ECS's strategic objective to bolster economic cooperation with major Chinese provinces and attract more high-quality investments to Egypt, supporting the state's initiatives to increase exports and develop value-added industrial supply chains across productive sectors.