Egyptian and Chinese authorities signed a total of 21 agreements and memorandum of understanding on Thursday, according to a statement from Egypt’s State Information Service. The two countries’ presidents, Abdel Fattah Al-Sisi and Xi Jinping, attended the signing ceremony at Al Qubba Palace in Cairo. According to the SIS statement, the two countries have agreed to cooperate in a number of fields, including technological development and the economy. The state officials also finalized a $US 1 billion financing agreement to the Central Bank of Egypt, as well as a $US 700 million loan to the state-owned National Bank of Egypt. Egypt’s Minister of Industry and Trade and the chairman of China’s National Development and Reform Commission also signed a memorandum of agreement regarding the Silk Road Economic Belt, a major Chinese project President Xi first introduced in 2013. The Chinese president’s visit to Cairo, which is the first by a Chinese leader in 12 years, coincides with the 60th anniversary of the establishment of diplomatic ties between Egypt and China. During his three-day visit, President Xi will also attend the launch of an Egyptian-Chinese economic project at Ain El-Sokhna. Since the January…
Egypt, China Sign 21 Agreements in Bid to Boost Bilateral Cooperation
January 22, 2016
