China wants to establish a new industrial zone on the Mediterranean: Trade Minister Ahmed Samir spoke with his Chinese counterpart Wang Wentao about the establishment of a Chinese industrial zone on the Mediterranean Sea, according to a Trade Ministry statement yesterday. The new industrial zone would work to meet both the needs of the local market and export to American and European markets, the statement notes.

The meeting also reviewed a proposal for the two countries to conduct trade in local currencies, with talks over the possibility of opening a branch of a Chinese bank in Egypt to help facilitate trade between Egypt and China.

China wants more agricultural imports from Egypt: Wentao pointed out that China has been Egypt’s largest trading partner for the last decade, and said that China wants to balance its trade relationshipwith us by upping its agricultural imports from Egypt.

ICYMI: Chinese companies have also become an important source of FX investment: At the Belt and Road Forum last year, private and state-owned enterprises in China throughout only a few days collectively pledged investments worth c. USD 15.6 bn in the Suez Canal Economic Zone. Enterprise HQ has been inundated with big China investment stories throughout the last two years on at least a weekly basis, especially as we’re now officially a member of Brics as of the beginning of the year.

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