Overview: Thriving Egyptian-Chinese economic relations - Egypt Today
Egyptian President Abdel Fattah al-Sisi and Chinese President Xi economy, suggesting that the “comprehensive strategic partnership”. CAIRO, Aug. 6 (Xinhua) -- China has been helping Egypt in many fields and China-Egypt cooperation has followed a win-win strategy, said a. It was thus a milestone in Sino-Egyptian and Sino-Arab relations. In , the trade volume between Egypt and China reached a historical.
China disapproves of and would never endorse the resolution of disputes through violence. Second, China hopes that hotspot issues in the Middle East may be solved through political efforts, and is willing to make its contribution to bringing peace to the region.
Fourth, China provides, as it always has, economic, technical and humanitarian assistance to these countries.Egypt looks to China for economic boost
Fifth, China proactively supports and encourages inter-civilization exchanges with Arab countries, and mutual learning through sharing state governance experience and promoting win-win cooperation.
Sino-Arab relations will continue to develop despite various changes.
Meanwhile, the vicissitudes of the international situation, the global financial crisis and the grave regional security situation all pose new challenges to China and Arab nations in their quest for peace and stability, economic development, sustainable use of energy and resources, and environmental protection.
Achieving sustainable development has become the common concern and pursuit of both sides.
When Xi Jinping met with the Gulf Cooperation Council GCC delegation in Januaryhe emphasized that Arab countries located in the western intersection of the Belt and Road Initiative are natural and important cooperative partners, and that China sets great store on cooperating with Arab countries in the co-building of the Belt and Road.
At the Sixth Ministerial Conference of China-Arab States Cooperation Forum held in Beijing on June 5 of the same year, Xi Jinping proposed that the two sides adhere to the principle of discussion, co-construction and sharing in jointly building the Belt and Road. One means taking energy cooperation as the core. Xi called for deepened cooperation along the whole oil and natural gas industrial chain to ensure safe energy transport routes and establish a long-term strategic cooperative energy relationship between China and the Arab world that is mutually beneficial, secure, reliable and friendly.
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Three refers to the three high- and new-tech fields of nuclear energy, space satellites, and new energy as breakthroughs through which to upgrade China-Arab pragmatic cooperation.
At times, the Sisi regime has actively snubbed its long-standing allies in pursuing closer ties with the Russian military establishment. As the United States has shown a greater reluctance to provide military aid, the Kremlin has stepped into the void.
Economic ties have also grown. The project remains at a very early stage, but the Egyptian government predicts that the facility will begin operating from Timothy Kaldas, a nonresident fellow at the Tahrir Institute for Middle East Policy, argues that any attempt to chasten the United States by reaching out to Putin has failed. An Egyptian official told Chinese state news agency Xinhua last year that China is the largest current investor in the Suez Canal, while Chinese conglomerate TEDA is developing a special economic zone in the region.
According to Chen, Egypt has tried to prove its political usefulness to China in other ways. This trend has changed abruptly, with Chinese money now fueling a broad range of state-led mega-projects in Egypt.
The enormous construction project faced a humbling lack of interest from foreign investors following its announcement, but Chinese funds have now been promised.
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Outside the new capital, China has committed billions to various Egyptian state projects, including revamping the textile industry and building a light rail system for Cairo.
Financial clout notwithstanding, China is unlikely to become a dominant power in Egypt anytime soon. The United States retains extensive leverage over crucial Egyptian decision-makers. When Egypt purchased weapons from Russia, it relied on Saudi and Emirati funding to do so. For now, the Sisi administration is maintaining the U.