Cairo hosts trade summit to celebrate 70 years of Pakistan-Egypt diplomatic ties

Cairo: A summit exploring economic opportunities emerging from China’s Belt and Road Initiative (BRI) is being hosted by the South Asian Strategic Stability Institute (SASSI) in Cairo.

The China-Pakistan Economic Corridor (CPEC) is a centerpiece project of BRI. President Xi Jinping’s BRI, unveiled in 2013, aims to bolster a sprawling network of land and sea links with Southeast Asia, Central Asia, the Middle East, Europe and Africa. With a focus on trade, the summit is also celebrating 70 years of bilateral relations between Pakistan and Egypt.

“Trade through the Indian Ocean is expected to rise with the emergence of China as a global economic superpower,” said a statement released by SASSI.

“Pakistan and Egypt are two important Belt Road initiative (BRI) members occupying key access points along the global maritime trade routes. The Suez canal and Gwadar are expected to emerge as mega seaports with unprecedented trade volume passing through in the coming decades.”

The conference further aims to highlight the benefits of mutual collaboration and explore how the two countries can capitalise on opportunities presented by BRI and its CPEC artery.

The forum will promote and support and open and unbiased exchange of ideas, demonstrate continued commitment to constructive dialogue with the international community and regional partners. It aims to enhance economic cooperation, regional connectivity and business activity.

Federal Minister for Planning and Development Khusro Bakhtiar, Pakistan’s Ambassador to Egypt, Mushtaq Ali Shah and other representatives from Egyptian and Pakistani ministries are attending the summit.