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

Sisi at UN: Let Us Recall Values of Nelson Mandela, World Needs to Address Conflict Root Causes

Sara AhmedSeptember 25, 2018

‘Sisi is a Great Friend’: Trump and Sisi Meet at United Nations

Mirna AbdulaalSeptember 25, 2018

Saudi Women Take Off their Veils in Solidarity with Feminist Tarif Alassiri

Nour EltiganiSeptember 24, 2018

IMF’s Lagarde: Egypt’s Economic Growth Among Highest in Middle East

Sara AhmedSeptember 24, 2018

Ministry of Antiquities: Baron Palace Renovation Will be Complete Within a Year

Sara AhmedSeptember 24, 2018

‘Misr Al Kheir’ Supports Disadvantaged Egyptian Children by Selling their Artwork

Mirna AbdulaalSeptember 24, 2018

Shubra District Head Suspended After Deadly House Collapse

Nour EltiganiSeptember 23, 2018

Egypt Appeals Court Releases Mubarak Sons, Dismisses Judge

Egyptian StreetsSeptember 22, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.