CAIRO: Chinese President Xi Jinping signed a slew of multi-billion-dollar deals with Egypt on Thursday as part of a regional tour aimed at bolstering Beijing’s economic ties and clout in the Middle East.
After arriving late on Wednesday from Saudi Arabia, Xi held talks with Egypt’s President Abdel Fattah al-Sisi and was to address the Cairo-based Arab League.
State television broadcast the live signing of bilateral agreements at a presidential palace in Cairo in the presence of the two leaders.
“The two sides have agreed to undertake 15 projects... mainly in sectors like electricity, transportation and infrastructure,” Xi said in a joint statement with Sisi.
“The total investments in these projects would be $15 billion. These projects will offer a new impetus to the economic development of Egypt”. Sisi said the agreements were the “best evidence of the two countries’ determination to improve their levels of cooperation”. In an article in state-run newspaper Al-Ahram ahead of his visit, Xi expressed China’s backing for Egypt running its affairs without outside interference.
“China supports the people of Egypt in making independent choices for the future of their own country,” he wrote.
He also said China supported Egypt “playing an active role in regional and international affairs”. Xi’s regional tour, his first to the Middle East as president, will take him next to Iran.
Beijing has long taken a backseat to other diplomatic players in the Middle East but analysts say the region is crucial to Xi’s signature foreign policy initiative — known as “One Belt One Road” — touted as a revival of ancient Silk Road trade routes.
Published in Dawn, January 22nd, 2016