China, Egypt establish civil body to promote mutual investments
The new Egyptian-Chinese Entrepreneurs Association will foster the growing economic relations between Cairo and Beijing as China intensifies its political activities with Washington’s allies in the Middle East.
CAIRO — Egypt and China have created the Egyptian-Chinese Entrepreneurs Association to encourage Chinese investments in Cairo. The new association was formally established in a ceremony held in Egypt’s Administrative Capital Nov. 28 in the presence of Egyptian and Chinese officials and businesspeople including Egyptian Finance Minister Mohamed Maait.
Majd al-Din al-Manzalawi, chair of the new association's board of trustees, told Al-Monitor that this is the first association of its kind. Under the Ministry of Social Solidarity, the new civil society organization will be concerned with developing investments between the two countries, with the encouragement of the Egyptian government in cooperation with the Chinese Embassy in Egypt.
During the inauguration ceremony, Maait said that the Egyptian government and the Chinese Embassy are keen to establish the association with the aim of deepening strategic partnership relations and building bridges of economic, commercial and cultural cooperation between the two countries.
He explained that the association is a new platform for dialogue between the two business communities and said, “We look forward to removing any obstacles that may face efforts to maximize investments, given the good reputation enjoyed by Chinese companies operating in Egypt.”
