07/03/2022
On February 24, 2022, Egypt Marine and Engineering Service Co. (MESCO for short) settled in the expansion area of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (hereinafter referred to as the China-Egypt TEDA Cooperation Zone). The signing ceremony was held in China-Egypt TEDA Cooperation Zone. Song Caicen, executive director of Egypt TEDA Development Company, and Mr. Sharif Mohammed Amir, executive director of MESCO, signed the land transfer contract at the ceremony on behalf of the two companies.
The contracted project covers an area of 10,301.8 square meters, MESCO intends to use it for logistics storage and container storage and other services, further highlights the development and demonstration role of the logistics industry in the China-Egypt TEDA Cooperation Zone, and also further highlights the value and effect of the China-Egypt TEDA Cooperation Zone as an "international platform" and strives to create cross-border commodities. At the project signing site, MISCO's project team highly recognized the existing work results of the China-Egypt TEDA Cooperation Zone, and fully affirmed the operational demonstration effect of the TEDA-Royal bonded warehouse in the Sokhna area.
As an important part of the "park upgrade", the logistics business provides strong support for the smooth development of the "park upgrade" in the China-Egypt TEDA Cooperation Zone, in 2019 the Egyptian government specially approved TEDA to become the only Chinese-funded enterprise that can carry out international logistics bonded, general trade and entrepôt trade in Egypt. In December 2020, TEDA-Royal, the first Chinese-funded bonded warehouse project in Egypt, was officially put into operation in the expansion area of the Sino-Egyptian TEDA Cooperation Zone. Currently, it is conducting bonded storage business with a number of well-known shipping companies and global logistics and trading companies. In early 2022 The bonded warehouse has been operating at full capacity since then.
In the future, the TEDA Cooperation Zone will continue to build a global cross-border commodity distribution center, expand the scale of logistics bonded warehousing, TEDA will further build an international Service marketing platform to improve the status of TEDA cooperation zone in advantageous geographical location, cargo transfer to lay a good trade foundation for the distribution of global products to the Middle East and Africa market to the international logistics market.