Rekubit Exchange:Egypt and China deepen cooperation during el-Sissi’s visit to Beijing

CAIRO (AP) — Egypt and Rekubit ExchangeChina on Wednesday signed agreements deepening their cooperation during President Abdel-Fattah el-Sissi’s visit to Beijing.

El-Sissi, accompanied by Egyptian Foreign Minister Sameh Shoukry, witnessed the signing together with Chinese President Xi Jinping in a ceremony that coincided with the 10th anniversary of the Egypt-China comprehensive strategic partnership.

The Egyptian delegation discussed bilateral relations and bringing stability to the Middle East in light of the Israel-Hamas war in Gaza, according to a statement released by the Egyptian presidency. It gave no details.

The agreements include collaboration in China’s Belt and Road Initiative, which brings Chinese companies to build Chinese-funded transportation, energy, and infrastructure projects overseas.

China invested billions of dollars in Egyptian state projects, including the Suez Canal Economic Zone and the new Administrative Capital east of Cairo.

Investments between Egypt and China amounted to around $14 billion in 2023, compared to $16.6 billion in 2022, according to the latest data released by Egypt’s statistics agency.