CAIRO, Feb. 17 (Xinhua) -- Egypt's membership in BRICS has opened up "greater horizons," expanding opportunities to benefit from China's "inspiring" experience in high-quality development and modernization, Egyptian Finance Minister Ahmed Kouchouk has said.
"We are very happy with our accession to BRICS and with the cooperation in all areas of joint work, including the economic or political tracks," Kouchouk told Xinhua in a recent interview.
Egypt officially joined BRICS in early 2024, a significant step in enhancing its global economic position.
He emphasized BRICS' importance as a forum for emerging economies to discuss priorities and policies and coordinate efforts to exchange expertise to enhance trade, economic and investment relations.
He underscored the role of the New Development Bank in financing infrastructure and development projects in BRICS nations.
Noting that Egypt is a founding member of the Asian Infrastructure Investment Bank (AIIB), which now has more than 100 members, Kouchouk said that the Beijing-based bank is currently financing about six projects in the country.
Kouchouk emphasized the significant development of Egypt-China relations in recent years, noting that "The level of bilateral relations has reached a strategic level, allowing cooperation across various fields. We have benefited from accessing the Chinese market and issuing bonds there."
He noted that China is Egypt's largest trading partner and one of its largest investment partners, thanks to the strong bilateral cooperation and the elevation of their relationship to a comprehensive strategic partnership, which has significantly influenced trade figures and prospects for cooperation.
The number of Chinese companies in Egypt has considerably increased across all sectors, especially in the last 10 years, said the Egyptian official, who cited the vast industrial zone developed by China's industrial developer TEDA near Egypt's Suez Canal as an example.
He praised China's high-quality development and modernization efforts, calling it a "pioneering experience."
"I have visited many Chinese cities as an AIIB board member and witnessed the tremendous progress and modernization China has achieved," he said, adding that Egypt can draw valuable lessons from China's experience.
He also commended China for its achievements in reducing poverty, boosting income levels, enhancing competitiveness across different sectors, making significant technological advancements, and developing extensive infrastructure nationwide. ■
