The Suez Economic and Trade Cooperation Zone (SETC) is an industrial estate near the city of
Suez
Suez ( ar, السويس '; ) is a seaport city (population of about 750,000 ) in north-eastern Egypt, located on the north coast of the Gulf of Suez (a branch of the Red Sea), near the southern terminus of the Suez Canal, having the same bou ...
, Egypt, established by a joint partnership between the governments of the People's Republic of
China and the Arab Republic of
Egypt
Egypt ( ar, مصر , ), officially the Arab Republic of Egypt, is a transcontinental country spanning the northeast corner of Africa and southwest corner of Asia via a land bridge formed by the Sinai Peninsula. It is bordered by the Medit ...
, for the purposes of inviting Chinese companies to set up industries, as part of the
Belt and Road
The Belt and Road Initiative (BRI, or B&R), formerly known as One Belt One Road ( zh, link=no, 一带一路) or OBOR for short, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 150 ...
project.
It was built by the Tianjin Economic-Technological Development Area (TEDA).
The zone was created in 2008 and extended in 2016 in a ceremony attended by Chinese President Xi Jinping on a state visit to Egypt.
The zone hosts several enterprises and manufacturing companies, including
Jushi, which produces fiberglass in Egypt primarily for export The EU introduced significant tariffs on fiberglass imports from Egypt as a result, alleging they were
dumping the fiberglass.
References
External links
* {{Official website, https://www.setc-zone.com/
Special economic zones
Economy of Egypt