In a joint press conference with Chinese Foreign Minister, Egypt’s Foreign Minister Sameh Shoukry said that Egypt is cooperating with China in the Belt and Road Initiative (BRI/new Silk Road) on the basis of common interests and mutual respect.
Shoukry said that Egypt is considering enhancing joint cooperation, via which China has provided a number of grants for economic development.
Chinese Foreign Minister Wang Yi has started a five-nation visit to Africa as Beijing increases its engagement with African countries. The trip comes at a time when there has been national and international criticism of the BRI policy, saying that it is just creating debt for countries that will struggle to repay the sums.
Yi said that there is an agreement to upgrade relations and strategic partnership between the two countries, noting that Chinese investment in Egypt has increased by 60 percent.
Yi also noted that the two sides agreed to enhance cooperation in all fields, including in the free trade zone in the Suez Canal as well as many other projects.
Yi said that newly established high-tech sectors in Egypt will be a leading point of joint cooperation between China and Egypt, including the production of energy, electric cars, communication and space technology.