China’s Xi Jinping sees Egypt as partner in tech, freight, factories

Chinese President Xi Jinping is pushing deeper into Egypt’s economy with plans that range from electric vehicles and renewable energy to semiconductors and artificial intelligence.

The two countries agreed during Xi’s visit this week to expand cooperation in data centers, cloud computing, critical metals and the Suez Canal Economic Zone, according to a joint statement issued Thursday.

Egyptian President Abdel Fattah El-Sisi and the Chinese leader said they plan to increase the use of their currencies in trade and investment while renewing and expanding an existing currency-swap agreement.

Chinese companies will be encouraged to build EVs, ships, solar panels and wind turbines in Egypt, helping Cairo position itself as an industrial and logistics hub linking Asia, Africa and Europe.

The agreements build on China’s Belt and Road projects in Egypt and come as regional wars disrupt trade and strain the country’s fragile economy.