Egypt’s Sisi in China to discuss business cooperation

Egypt’s Sisi in China to discuss business cooperation
Egypt’s President Sisi has met with Chinese President Jinping on the second stop in his Asia tour to talk about strengthening bilateral business relations, counter-terrorism strategies and going regional conflicts.
3 min read
02 September, 2015
Sisi made what was billed as a “landmark” visit to Beijing last December [Getty]
Egyptian President Abd al-Fattah al-Sisi met one-on-one with his Chinese counterpart Xi Jinping on Wednesday in the Chinese capital Beijing to discuss business cooperation and the ongoing crises facing the Middle East.

Sisi and Jinping discussed the latest developments in the wars in Syria and Yemen, strategies to strengthen relations between the two countries and counter-terrorism efforts, according to al-Masry al-Youm.

“Egypt and China have put in place a comprehensive strategic partnership. I commend the steps and effort that have been taken to achieve this goal,” said Sisi in a speech at the start of the talks.

“I am looking forward to the Chinese President visiting Egypt. The projects that were discussed last year are moving forward step by step and are in need of your support and aid,” added the Egyptian President.

The leaders signed two agreements, one of which is valued at $100mn between the China Development Bank and the National Bank of Egypt to help finance small and medium-sized businesses, the second agreement aims to increase Egypt’s production capacity and level of manufacturing.

Sisi said the New Suez Canal project, in addition to the Suez Canal Area Development project and the establishment of six ports, will complement Jinping’s initiative to revive the ‘Silk Road’ and accommodate the expected increase in maritime traffic.

According to a Egyptian government statement, China praised Egypt for its leading role in the Middle East, as a cornerstone for security and stability in the region and has expressed its support for Egypt’s anti-terrorism efforts.

The head of the China-Africa Development Fund [CAD] Chi Jianxin said China has invested $500mn, of which $150mn have come from the CAD Fund, in six business projects in Egypt including in the Suez Canal Economic Zone, two car assembly plants and a refrigerator factory.

Jianxin added the CAD Fund is turning its attention to the energy, infrastructure and manufacture sectors in Egypt.

Sisi made what was billed as a “landmark” visit to Beijing last December, since then Egypt has formally joined the Silk Road Economic Belt trade union and became a founding member of the China-led Asian Infrastructure Investment Bank.

On Thursday, Egyptian military officers and soldiers took part in military parade, celebrating the 70th anniversary of China's WWII Victory Day, with Sisi, Russian president Vladimir Putin and other world leaders in attendance.

Sisi started his Asia tour by visiting Singapore on Monday after his three-day state visit to China he will make his final stop in Indonesia on Friday.

Last week, Sisi visited Russian President Vladimir Putin who called for a new coalition to fight the Islamic State group, which could include Cairo and the Assad regime.

Plans by Sudan's President Omar al-Bashir to visit China have prompted the US to express concerns, opposing invitations, facilitation or support for travel by persons subject to outstanding ICC warrants.

On Sunday, the Sudanese foreign ministry said that Bashir would travel to meet his Chinese counterpart Xi Jinping and attend China's WWII Victory Day celebrations.