Egypt-Hong Kong talks: Public Enterprises Minister Mahmoud Esmat called on financial institutions and companies in Hong Kong to collaborate with public-sector industrial and manufacturing firms during talks with the region’s finance chief in Cairo earlier this week, according to a ministry statement. Egypt is eager for Hong Kong and Chinese companies to increase local investment, Esmat told Hong Kong Financial Services and Treasury Secretary Christopher Hui, emphasizing the government’s ambitions to accelerate industrialization and increase localization.

Egypt and China are looking to strengthen economic ties: Both sides have sent several delegations to each other’s countries this year to discuss investment opportunities and areas for economic cooperation. The Suez Canal Economic Zone, GAFI and International Cooperation Minister Rania Al Mashat have all visited China and Hong Kong this year, while a Chinese delegation held talks with President Abdel Fattah El Sisi this week about economic and trade relations. A slew of Chinese companies have recently pledged to increase their manufacturing footprints in the SCZone, while the developer behind the TEDA industrial area in Ain Sokhna is reportedly considering a significant expansion of the zone.

Egypt -Iran economic rapprochement? Finance Minister Mohamed Maait discussed expanding bilateral economic cooperation with his Iranian counterpart Ehsan Khandouzi on the sidelines of the Asian International Infrastructure Bank’s (AIIB) annual meeting in Sharm El Sheikh on Monday, the ministry said yesterday. The two ministers agreed to set up a committee for joint economic projects between the two states, Khandouzi said in a post on X (formerly Twitter). They also agreed to increase the capital of MIDBank, formerly known as the Misr Iran Development Bank, which is jointly owned by the governments of the two countries.

ICYMI- Iran is reviving relations with Saudi Arabia , and Egypt could be next: The two countries have reportedly been in months of negotiations on normalizing ties and reopening embassies. Foreign Minister Sameh Shoukry met with his Iranian counterpart last Wednesday on the sidelines of the UN General Assembly to discuss mending bilateral ties.

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