- Eng. Mohamed El-Gawsaky: The partnership between Egypt and Hong Kong represents a strategic pillar for reshaping global value-added chains in the spinning and textile industry
- HKTDC: The partnership with Egypt is essential to the future of our industry
- AECE: Egyptian garment exports to the European Union and the United States increased by 97% and 46%, respectively, over the past five years
GAFI CEO Eng. Mohamed El-Gawsaky held a roundtable meeting with a high-level delegation of Hong Kong companies operating in the ready-made garments and textiles sector.
During the meeting, investment partnership opportunities between the spinning and textile sectors in Egypt and Hong Kong were discussed, in the presence of Ms. Katherine Suk-Kwan Fang, CEO of the Garment Advisory Council of the Hong Kong Trade Development Council (HKTDC), along with representatives of the Egyptian Export Councils for Ready-Made Garments and Textiles, a number of Egyptian companies operating in these fields, and representatives of leading spinning and textile institutions in both countries.
Eng. Mohamed El-Gawsaky stated that the spinning, textiles, and ready-made garments sector is one of the industries in which Egypt enjoys a clear competitive advantage, supported by a well-established industrial base, accumulated expertise, and a highly skilled trained workforce, in addition to the availability of production inputs and qualified industrial infrastructure. He noted that these strengths position Egypt as a suitable platform for industrial expansion, the localization of value-added chains, and the integration of production with regional and international markets.
Engineer Mohamed El-Gawsaky emphasized the importance of the partnership with Hong Kong, as a gateway for Chinese and Asian companies seeking international expansion, as well as one of the world's major financial centers for mobilizing investment financing into Egypt. He noted that Egypt is considered a gateway for investment into the African continent, and accordingly, GAFI seeks to create a platform for open and continuous dialogue between business communities on both sides.
Eng. Mohamed El-Gawsaky added that GAFI is working to deepen cooperation with Hong Kong by providing an attractive investment environment and organizing numerous events that bring together representatives of the business communities from both sides. He also noted that the Egyptian government has established a dedicated unit specialized in attracting Chinese investments, offering a fast and efficient track that addresses investors' evolving needs and provides continuous support to Chinese investments in overcoming any challenges related to the investment environment in Egypt.
Ms. Katherine Suk-Kwan Fang stated that economic institutions in Hong Kong view Egypt not only as a key manufacturing hub or an attractive destination for investment, but also consider the partnership with Egypt essential for the future of Chinese industry. This comes in light of Egypt's remarkable success in developing production chains, enhancing trade relations, and improving adherence to sustainability standards, in addition to its competitive advantages in terms of location connecting three continents, a skilled workforce, and infrastructure. Accordingly, Chinese companies seek to deepen the integration of value-added chains between the two countries.
Ms. Iris Wong, Director of External Relations at HKTDC, invited Egyptian companies to participate in the exhibitions and events organized by the Council, which number up to 40 events in the spinning, textiles, and garments sector. She noted that this provides Egyptian companies with opportunities to exchange expertise, establish partnerships, and access new markets for Egyptian products—especially as Egypt serves as a cornerstone in China's Belt and Road Initiative, by the Chinese government to strengthen economic ties with partner countries..
Ms. Sherin Hosny, Executive Director of Apparel Export Council (AEC) of Egypt for Ready-Made Garments, stated that Egypt is the natural base for the expansion of Chinese companies, as it offers a significant competitive advantage in terms of labor availability, facilities, and ease of procedures, in addition to Egypt's preferential trade agreements with major global markets. She also noted that Egyptian garment exports to the European Union and the United States have increased by 97% and 46%, respectively, over the past five years.
Ms. Rasha Fahim, Executive Director of the Textile Export Council of Egypt (TEC), affirmed that Egypt has become a primary destination for many global companies seeking new markets to inject investments into the spinning and textile industry. This is due to the multiple competitive advantages of the Egyptian market, including the depth of value-added chains—from fibers to final products—the ability to supply products within short lead times, and Egypt's linkage to trade agreements that grant Egyptian exports preferential access to numerous global markets. As a result, Egypt's spinning and textile exports reached USD 1.13 billion in 2024, achieving a growth rate of 48% over the past five years.
During the meeting, promotional videos showcasing investment opportunities in Egypt and the diverse investment frameworks tailored to investors' varying needs were presented. Bilateral meetings were also organized between institutions from both sides interested in establishing investment partnerships.
