Egypt, China sign 20 economic agreements

Thursday 21-01-2016 03:47 PM
Egypt, China sign 20 economic agreements

CAIRO, Jan. 21 (Aswat Masriya) – Egypt signed on Thursday about 20 economic deals with China including a $1 billion financing agreement to Egypt's central bank and $700 million in loans to the National Bank of Egypt.  

Chinese President Xi Jinping arrived in Cairo on Wednesday for a three day visit, marking the first high-ranking visit of its kind in 12 years.

Jinping visited Saudi Arabia before heading to Cairo.

The Chinese president was accompanied by a high-level delegation including representatives from major Chinese companies.

Egypt and China signed agreements in the electricity, housing and civil aviation sectors. Both nations also signed deal a relating the development of the Suez Canal axis and another on economic and trade cooperation in the Suez Canal economic zone.

During the visit, Egypt's president Abdel Fattah al-Sisi received an invitation from his Chinese counterpart to attend G20 Summit in September.

In a press conference following the signing of the deals, Sisi stressed the two sides' keenness to develop relations and resolve issues and crises in the Middle East. 

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