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Egypt and China sign 17 export deals worth $168 million
Egyptian and Chinese companies have signed 17 export contracts totaling $168 million during the "Export to China" event. This initiative supports Egypt's goal to diversify its exports and increase the presence of its products in international markets. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, stated that the government aims to open new markets, increase Egyptian exporters, and leverage opportunities in priority destinations like China. The ministry's strategy focuses on converting promotional efforts into commercial agreements by fostering direct, long-term relationships between Egyptian exporters and international buyers. Egypt also seeks to attract more Chinese investment into its production and export-oriented sectors to facilitate technology transfer, enhance local added value, and improve industrial competitiveness. The event, co-sponsored by Egypt's Ministry of Investment and Foreign Trade and China's Ministry of Commerce, involved 16 Chinese importing companies and approximately 40 representatives from Egypt's export sector. The agreements cover various sectors, including agriculture, food products, minerals, engineering industries, leather, and textiles, with specific exports including flax, textile yarn, leather, copper, aluminum, sugarcane, and oranges. Sayed Fouad, head of the Asia Department at the Egyptian Commercial Service, highlighted that these contracts reflect strong coordination and demonstrate how direct business meetings can lead to
