by Mahmoud Fouly
CAIRO, March 14 (Xinhua) -- China's commitment to further opening-up to the world is expected to bring significant benefits to the global economy and developing countries, an Egyptian expert has said.
"China has launched global initiatives, such as the Belt and Road Initiative, and the China International Import Expo, which have strengthened economic ties between China and the rest of the world," Mohamed Youssef, executive director of the Egyptian Businessmen's Association (EBA), a non-profit business organization, told Xinhua in an interview.
These initiatives have already shown "positive results," he said, adding that China's commitment to enhancing its global openness benefits the world economy, particularly the nations of the Global South.
"I see a promising and positive future for China's relations with the Middle East, Africa and the Arab world in general, through its policy of opening-up to the outside world," said the EBA executive director.
He spoke highly of China's business environment, which ensures equal opportunities for all companies operating within the country.
"This approach demonstrates China's commitment to addressing global economic challenges by offering investment incentives and a competitive environment for foreign businesses," Youssef added.
Youssef attributed China's extraordinary economic development to the country's reform and opening-up policy.
"China has successfully implemented a unique economic reform program," he said, stressing that the world's second-largest economy is also leading the way in scientific research and industrial strategies.
Looking ahead, the Egyptian business leader sees a "golden opportunity" for China to deepen its partnerships with the developing world.
China can offer a fairer, more sustainable model of economic cooperation, stepping in where other major countries have failed to create mutually beneficial relationships, he said, adding that the growth of Egypt-China trade relations has been remarkable, with Egyptian exports to China significantly increasing.
"Thanks to the Egypt-China comprehensive strategic partnership, more Egyptian products started to enter the Chinese market," Youssef said. ■