$400 billion.. the volume of trade exchange between China and the Arab region

Dr. Khaled Hanafi, Secretary General of the Union of Arab Chambers, confirmed during his participation in the Global Summit for the Promotion of Trade and Investment 2023, which was held in China, that the volume of trade exchange between China and the Arab region reached about $400 billion.

He stressed that despite this tremendous progress in the volume of trade exchange, we need to transform this relationship from its current traditional reality based on import and export into a strategic partnership, given the great competitive economic potential that both sides enjoy.

Cooperation between Egypt and China

In related context, Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy, received Mr. Zhang Kaihong, Executive Vice President of the Chinese company CTGI, and his accompanying delegation, to discuss ways to support and enhance cooperation between the Egyptian electricity and renewable energy sector and the company.

Dr. Shaker praised the distinguished relations between Egypt and China, pointing to the effective participation of the Chinese side in the Egyptian electricity sector projects, which were evident during the past decades.

He also praised the Chinese companies, explaining that they are a reliable partner and have a major role in contributing to the electricity sector projects, which are represented in production stations, transmission and distribution networks, and renewable energy.

Dr. Shaker reviewed the achievements that the electricity and renewable energy sector has succeeded in achieving, stressing the interest that the sector attaches to spreading the uses of renewable energies.

Energy production 

He referred to the state's strategy, which aims to increase the contribution of renewable energy in the electric energy mix, and the attention that the electricity and renewable energy sector attaches to diversifying the sources of electric energy production and benefiting from Egypt's natural resources, especially new and renewable energy sources.

Which aims to reach the contribution of renewable energy in the energy mix in Egypt to 42% by 2035, and there is interest in reaching this percentage before 2035.

He referred to Egypt's clear richness in renewable energy sources, especially wind and solar energy, which qualifies it to be one of the largest producers of renewable energy.

Green hydrogen

The minister indicated that there is cooperation with international companies to start implementing pilot projects for the production of green hydrogen in Egypt as a first step towards expanding in this field and reaching the possibility of export, as 23 memorandums of understanding were signed in this regard, including 9 framework agreements signed with major companies in this field. field during the climate conference cop 27 and emphasized the efforts made by Egypt to be a passage through the clean energy enjoyed by the African continent.

Renewable energy sector

Shaker welcomed the cooperation with CTGI in various fields of renewable energy such as sun, wind, green hydrogen, localization of local industries, pumping, storage and floating solar stations.

  Zhang Kaihong, Executive Vice President of the Chinese company CTGI, and his accompanying delegation, praised the great experience that the Egyptian electricity and renewable energy sector possesses in all fields, and reviewed the company's activities and experience in the field of renewable energy.