Egypt and China have agreed to launch the third phase of expansions at the China-Egypt industrial zone in the Suez Canal Economic Zone (SCZONE), President Abdel Fattah El-Sisi said on Wednesday, as Chinese President Xi Jinping began an official visit to Egypt.
The expansion will open a new phase of investment in key sectors including renewable energy, automotive manufacturing, textiles and chemical fibers, El-Sisi said during expanded talks with Xi at the Ittihadiya Palace in Cairo.
El-Sisi highlighted the rapid development of Egypt-China economic relations, particularly in localizing industry and transferring technology, describing both as priorities for the two countries.
Xi, for his part, reaffirmed China's commitment to implementing the Comprehensive Strategic Partnership agreed with Egypt in 2014 and said China would continue encouraging its companies to increase investments in Egypt, citing the country's strategic location and market potential.
The Chinese president also underscored continued cooperation and technical expertise-sharing with Egypt in infrastructure, energy, manufacturing and agriculture.
The two leaders also discussed regional and international developments, with both sides stressing the importance of diplomatic solutions to conflicts and efforts to reduce tensions in the Middle East.
El-Sisi called for continued coordination with China, as a permanent member of the UN Security Council, to support regional de-escalation and development efforts.
The talks also covered the war in Gaza, the Palestinian issue and Egypt's water security, with El-Sisi stressing the importance of protecting Egypt's rights to Nile water and adherence to international law by Nile Basin countries.
The visit coincides with the 70th anniversary of the establishment of diplomatic relations between Egypt and China in 1956. Egypt was the first Arab and African country to establish diplomatic ties with the People's Republic of China.
The two presidents also witnessed the signing of a number of agreements and memoranda of understanding between Egyptian and Chinese entities during the visit.