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Phone: 86-13201801998
E-mail: jenny@ztmineequipment.com
Add: No.27, Beichen Village Industrial Park, Weiyang District, Shaanxi Province
New Egypt Market Analysis
Time: 2023-02-25 Source: Plant extraction Author:
After attending Egypt-Construction, Building Materials, and Metal Products Business Exchange Conference, analyzing the Egyptian Market.
Egypt is located in northeastern Africa, with an area of 1 million square kilometers, 95% of which is covered by deserts. Most of the arable area is located near the Nile River valley and delta. The country has a population of about 100 million, making it the third most populous country in Africa. Egypt is located at the junction of Asia, Europe, and Africa. Its territory also includes the Sinai Peninsula east of the Suez Canal and the southwestern tip of Asia. It is not only a land transportation hub between Asia and Africa but also a shortcut for sea routes between the Atlantic Ocean and the Indian Ocean. Its strategic location is essential. Egypt is also a powerful country in Africa. Its comprehensive strength is second only to Nigeria and South Africa in Africa, and it is the third-largest economy in Africa.
Egypt was the first Arab country and African country to recognize the new China and established diplomatic relations with China in May 1956. In 1999, China and Egypt established a strategic cooperative relationship facing the 21st century. In May 2006, the foreign ministries of the two countries established a strategic dialogue mechanism. In June 2006, the two countries signed an implementation outline on deepening the strategic cooperative relationship. In May 2007, the National People's Congress of China and the Egyptian People's Assembly established a regular exchange mechanism. Since 2014, the heads of state of China and Egypt have met many times. In December 2014, China and Egypt established a comprehensive strategic partnership. In January 2016, the two countries signed a five-year implementation outline on strengthening the comprehensive strategic partnership.
In 2019, Egypt's top ten trading partners are the European Union, China, the United Arab Emirates, the United States, Saudi Arabia, the United Kingdom, Switzerland, India, Russia, and Turkey. Among them, the EU is Egypt's largest trading partner, accounting for 25.3% of Egypt's total foreign trade. China ranked second, accounting for 6.6%.
Egypt is an important fulcrum country along the “Belt and Road” and plays an important role in China-Africa cooperation. China is Egypt's largest trading partner. In 2018, the scale of bilateral trade hit a record high. The Suez Economic and Trade Cooperation Zone jointly established by China and Egypt is a successful case of China's overseas economic and trade cooperation zone and has become an important platform to promote investment and technological cooperation between the two countries.
In recent years, Chinese-funded enterprises have increased their investment intentions in Egypt, direct investment has continued to grow, and investment fields have been further expanded, involving steel, medicine, textiles, new energy, and other fields. In addition, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone has become the industrial park with the best comprehensive environment, the highest investment density, and the highest unit output in Egypt. The park is applicable to the preferential policies of the Suez Special Economic Zone and has a strong investment attraction for Chinese-funded enterprises.
With regard to market potential, commercial circulation, logistics channels, etc., they all have very good advantages in this region. Egypt is the fastest-growing economy in the Middle East and North Africa. In recent years, it has had political and security stability, market opening, and rapid economic development. The new capital Many key projects such as the Suez Canal Special Economic Zone are under construction. There are many kinds of goods imported from China, the import volume is growing rapidly, and the market prospect is promising.
Egypt is located in northeastern Africa, with an area of 1 million square kilometers, 95% of which is covered by deserts. Most of the arable area is located near the Nile River valley and delta. The country has a population of about 100 million, making it the third most populous country in Africa. Egypt is located at the junction of Asia, Europe, and Africa. Its territory also includes the Sinai Peninsula east of the Suez Canal and the southwestern tip of Asia. It is not only a land transportation hub between Asia and Africa but also a shortcut for sea routes between the Atlantic Ocean and the Indian Ocean. Its strategic location is essential. Egypt is also a powerful country in Africa. Its comprehensive strength is second only to Nigeria and South Africa in Africa, and it is the third-largest economy in Africa.
Egypt was the first Arab country and African country to recognize the new China and established diplomatic relations with China in May 1956. In 1999, China and Egypt established a strategic cooperative relationship facing the 21st century. In May 2006, the foreign ministries of the two countries established a strategic dialogue mechanism. In June 2006, the two countries signed an implementation outline on deepening the strategic cooperative relationship. In May 2007, the National People's Congress of China and the Egyptian People's Assembly established a regular exchange mechanism. Since 2014, the heads of state of China and Egypt have met many times. In December 2014, China and Egypt established a comprehensive strategic partnership. In January 2016, the two countries signed a five-year implementation outline on strengthening the comprehensive strategic partnership.
In 2019, Egypt's top ten trading partners are the European Union, China, the United Arab Emirates, the United States, Saudi Arabia, the United Kingdom, Switzerland, India, Russia, and Turkey. Among them, the EU is Egypt's largest trading partner, accounting for 25.3% of Egypt's total foreign trade. China ranked second, accounting for 6.6%.
Egypt is an important fulcrum country along the “Belt and Road” and plays an important role in China-Africa cooperation. China is Egypt's largest trading partner. In 2018, the scale of bilateral trade hit a record high. The Suez Economic and Trade Cooperation Zone jointly established by China and Egypt is a successful case of China's overseas economic and trade cooperation zone and has become an important platform to promote investment and technological cooperation between the two countries.
In recent years, Chinese-funded enterprises have increased their investment intentions in Egypt, direct investment has continued to grow, and investment fields have been further expanded, involving steel, medicine, textiles, new energy, and other fields. In addition, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone has become the industrial park with the best comprehensive environment, the highest investment density, and the highest unit output in Egypt. The park is applicable to the preferential policies of the Suez Special Economic Zone and has a strong investment attraction for Chinese-funded enterprises.
With regard to market potential, commercial circulation, logistics channels, etc., they all have very good advantages in this region. Egypt is the fastest-growing economy in the Middle East and North Africa. In recent years, it has had political and security stability, market opening, and rapid economic development. The new capital Many key projects such as the Suez Canal Special Economic Zone are under construction. There are many kinds of goods imported from China, the import volume is growing rapidly, and the market prospect is promising.
