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

How Oil Wealth and Terrorism Can Lead to Kurdistan’s Secession

Mirna Khaled AbdulaalSeptember 25, 2017

World’s Heaviest Woman, Egyptian National Eman Abdel Aty Dies at 37

Egyptian StreetsSeptember 25, 2017

Mashrou Leila Banned from Performing in Egypt Over ‘Rainbow Flag’: Syndicate

Egyptian StreetsSeptember 25, 2017

Egypt Wins the 2017 Macau Squash Open in China

Maydaa Abo El NadarSeptember 25, 2017

Egyptian Authorities Order the Closure of Al-Balad Bookstore

Engy AdhamSeptember 24, 2017

State Institutions to be Moved to the New Administrative Capital By the End of 2018: PM

Egyptian StreetsSeptember 24, 2017

The International Finance Corporation to Invest $150 Million in Agriculture in Egypt

Egyptian StreetsSeptember 24, 2017

Egyptian Icon Oum Kulthum Featured in New Film Screened at Venice Film Festival

Samir ShalabiSeptember 24, 2017
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.