El Sisi in China: Promoting a more balanced trade relationship between Egypt and China topped discussions between President Abdel Fattah El Sisi and Chinese President Xi Jinping during El Sisi’s visit to China for the China-Arab States Cooperation Forum in Beijing, a joint statement said on Thursday. The two agreed to allow more high-quality Egyptian products into the Chinese market and to explore local currency-denominated local trade.

What trade imbalance? Despite consistent talk of balancing out our trade relationship with the country, Egyptian exports to China halved from 2022 to 2023, according to data (pdf) released by state statistics agency Capmas. While China imported only USD 909 mn worth of Egyptian goods in 2023, Egypt imported USD 12.9 bn from China.

Chinese investments look set to keep up the momentum: The two countries agreed to prioritize localizing industry and transferring technology by expanding Egypt-bound industrial investments

Industries to keep an eye on: The statement namechecked manufacturing EVs and solar panels — two products that China is leading the way in terms of affordability and the tech behind them. Chinese companies may also have a new incentive to expand their production outside the country after the US slapped Chinese imports of the two products with massive tariffs. Chemical industries, building materials, agritech, and hotels were also named as targets for investment. The two sides also agreed to strengthen cooperation in AI, science, culture, and media.

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