Egypt’s International Cooperation Minister, Hong Kong leader discuss cooperation opportunities

Egypt’s Minister of International Cooperation, Rania Al-Mashat, met with Chief Executive of Hong Kong, John Lee Ka-chiu, on Thursday to discuss ways to enhance bilateral cooperation and leverage Hong Kong’s status as one of the world’s major financial centres to promote economic collaboration.

The two sides also discussed investment opportunities in the Egyptian market and the government’s efforts to stimulate the private sector, attract investments, and attract companies operating in Hong Kong.

During the meeting, Al-Mashat expressed Egypt’s appreciation for the cooperation with China at all levels. She affirmed that the upcoming period will witness further joint work based on the Comprehensive Strategic Partnership Agreement signed by the leaders of both countries in 2014. She highlighted the continuous development in bilateral relations, including the signing of the Memorandum of Understanding for the Global Development Initiative (GDI) in July last year, which established a new phase of economic and developmental cooperation and explored prospects for cooperation with China.

Al-Mashat also stressed the importance of South-South cooperation, describing it as a promising area to leverage the economic potential available in the Hong Kong region, Egypt’s strategic location, and its relationship at the African continent level to enhance development efforts and implement sustainable development goals.

She called on the Chief Executive of Hong Kong, companies, and investors in the region to explore investment opportunities in Egypt.

Lee talked about the advantages and financial services available in Hong Kong, as well as the opportunities that can contribute to enhancing collaborative efforts with Egypt in Belt and Road Initiative projects.

In addition, Al-Mashat met with David Eldon, Deputy Non-Executive Deputy Chair of HSBC Bank. They discussed the results of the Belt and Road Summit in Hong Kong, as well as efforts to strengthen collaboration with multilateral development banks and investment banks. The goal is to promote development by providing financing and increasing investments in priority projects.

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