News

Egypt, China Sign 21 Agreements in Bid to Boost Bilateral Cooperation

Egypt, China Sign 21 Agreements in Bid to Boost Bilateral Cooperation

Photo: Egypt's State Information Service
Photo: Egypt’s State Information Service

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 25 revolution in 2011, which resulted in a decline in Egypt’s foreign reserves and economic turmoil, the country has been looking to diversify its economic and trade opportunities.

ISIS Claims Responsibility for 10 Killed in Cairo Explosion
Cairo Explosion Kills 10, Including Seven Policemen

Subscribe to our newsletter


News

More in News

Kasr Al-Ainy Hospital is Offering Free Treatment to FGM Survivors in Egypt

Amuna Wagner22 September 2021

Egypt to Introduce Ethics Code for Media Coverage of Suicide

Marina Makary21 September 2021

Former Supreme Council Head Mohamed Tantawi Dies at 85

Mona Abdou21 September 2021

US Admits Afghanistan Drone Strike Killed Seven Children, Other Civilians

Egyptian Streets18 September 2021

Egypt Removed from UK COVID-19 ‘Red List’

Amina Zaineldine17 September 2021

EgyptAir to Operate Cairo-Tel Aviv Flights in October

Marina Makary14 September 2021

Israeli Prime Minister Visits Egypt for the First Time in a Decade

Mona Abdou13 September 2021

Egypt Launches National Strategy for Human Rights

Egyptian Streets11 September 2021