Cairo and Beijing: A strategic partnership reshaping Egypt's economic future

Editor's note: Kareem Sabry is an Egyptian television journalist and correspondent for Extra News channel. The article reflects the author's opinions and not necessarily the views of CGTN.

Coinciding with the 17th BRICS Summit in Rio de Janeiro on July 6 and 7 under the theme "Enhancing Global South Cooperation for Inclusive and Sustainable Governance," Egypt's participation affirms its intent to play a more active role in influencing the future of the global economy. This comes as Egypt officially joins BRICS, a group that now represents a growing voice for the Global South amid ongoing geopolitical and economic transformation.

In this context, Egyptian Prime Minister Mostafa Madbouly delivered a speech on behalf of Egyptian President Abdel Fattah El-Sisi during the opening session. His message emphasized Egypt's vision for stronger international cooperation and the need for concessional financing and technology transfer to developing nations as essential conditions for achieving sustainable development and eradicating poverty. He also stressed the importance of integrated collaboration across infrastructure, industry, energy, and cutting-edge technologies such as artificial intelligence.

Egypt's message at the BRICS Summit reflects the real progress made through the implementation of large-scale development projects with global partners, most notably China. As one of Egypt's most prominent strategic allies and a founding member of BRICS, China has played a critical role in supporting Egypt's national development efforts across various sectors, offering a model of meaningful collaboration aligned with sustainability goals.

This cooperation is particularly evident in Egypt's New Administrative Capital. One notable example is the involvement of China State Construction Engineering Corporation (CSCEC), one of the world's leading construction firms. CSCEC is responsible for multiple major developments, including the 400-meter-high iconic tower. The company has also assumed management of the Central Business District in the capital, reflecting the continuity and depth of this growing partnership.

Beyond the capital, the Suez Canal Economic Zone has become another key area of collaboration. Developed in partnership with China, the zone now hosts more than 160 Chinese companies, providing a strong example of industrial integration and cross-border supply chain development.

The transport sector has benefited from bilateral projects such as the $10 billion electric train connecting Cairo to the New Administrative Capital and the 543-kilometer high-speed rail network, both contributing to Egypt's smart infrastructure vision. In the field of energy, Chinese companies have been instrumental in the development of the Benban Solar Park in Aswan, one of the largest solar complexes globally. TBEA, a Chinese renewable energy firm, has built three stations producing a combined 186 megawatts. The entire park is expected to produce around 2 gigawatts through nearly 40 independent stations. This stands as a prime example of a development-driven partnership that goes far beyond trade.

The digital and communications sectors are also seeing growth through strategic agreements with firms like Huawei and ZTE. A joint investment fund worth $300 million has been established to support artificial intelligence and chip technologies. These efforts are moving Egypt toward becoming a regional digital hub.

In the field of agriculture, bilateral cooperation includes agreements to transfer agricultural technology, modernize irrigation systems, and reclaim land to boost food security and resilience in the face of climate change.

These achievements are anchored in clear political will and have been transformed into strategic agreements between Egypt and China. A key milestone was the signing of the Executive Program for the Comprehensive Strategic Partnership from 2024 to 2028, during President El-Sisi's visit to Beijing in January 2024. The agreement marks a new phase in bilateral relations. At the same time, China has benefited from expanded access to African markets, broader integration into the Belt and Road Initiative, and new opportunities to export its technologies and expertise, all within a balanced framework of mutual interests.

Trade between the two countries has continued to grow, reaching approximately $15.7 billion in early 2024, up from $11.9 billion in 2022. Chinese investments now account for an estimated 30 to 40 percent of Egypt's total foreign direct investment. These flows have directly supported job creation, industrial modernization, and advances in key sectors such as clean energy, transportation, and telecommunications.

In light of the 17th BRICS Summit, this strategic partnership stands out as a launchpad for broader multilateral collaboration. Chinese Premier Li Qiang echoed this direction in his speech titled "Peace, Security, and Reforming Global Governance," where he called for greater independence, self-reliance, and responsibility in building global consensus. He also announced the creation of a joint research center focused on "new quality productive forces" and unveiled a scholarship initiative for BRICS nations to support talent development. These initiatives reinforce China's commitment to inclusive development within the BRICS framework.