Egypt emerges as key hub for global trade

Egypt is emerging as a key hub for global trade, offering investors a strategic export base with multiple trade agreements and access to key markets in the Middle East, Europe, and the US, supported by HSBC’s network and local expertise, said Todd Wilcox, deputy chairman and CEO of HSBC Egypt.

Wilcox made the remarks during the Hong Kong Garment and Textile Business Mission in Cairo, hosted by HSBC in collaboration with the Hong Kong Trade Development Council (HKTDC), according to a statement released by the bank on Sunday.

He highlighted that Egypt’s garment and textile sector continues to offer strong potential for international investors, thanks to its skilled and cost-effective workforce, which could contribute significantly to job creation.

HSBC has assisted several Hong Kong-based companies in investing in Egypt’s garment and textile manufacturing sector.

HKTDC has also supported these businesses with market insights and expertise to strengthen the Egypt–Hong Kong business corridor, according to Iris Wong, HKTDC’s Merchandise Trade and Innovation director.

Egypt is seen as a “compelling platform” for export-focused local production and free trade agreements, said Katherine Fang, CEO of Hong Kong-based conglomerate Fang Brothers Holdings and leader of the mission.