Xi’s visit to Egypt is part of the second stage of his 10-day tour that started on Tuesday in Saudi Arabia and will continue on Friday to Iran, which represents his first visit to the region since he took office in November 2012.
President Xi is also expected to address the House of Representatives in Egypt on Wednesday according to the country’s parliament speaker Ali Abdel-Ali, who added that the Chinese leader wishes to send a message to the world about his aspirations to build a strategic relation with Egypt at all levels.
The Arab League headquarters will also be hosting the Chinese President where he will give a speech to the Arab world, which is expected to express the desire of China to support peace processes and development in the region.
Egypt’s Ambassador to Beijing Mady Amar, quoted by local news agency MENA, said that both nations will work in the implementation of a five-year strategic cooperation program, initially agreed during Sisi’s visit to China in December 2014.
In this contest, China will lend Central Bank of Egypt 1 billion dollars to support the foreign reserve according to the newspaper. The ambassador also said that Agreements worth 700 million dollars to the National Bank of Egypt, in addition the Banque Misr will receive 100 million dollars to fund micro and medium sized projects.
President Xi is also expected to attend the launch of the 2nd phase of the Egyptian - Chinese commercial and economic project in Ain Sokhana, which is a six square kilometer areas meant to attract industrial investments amounting to approximately 30 billion dollars.
President El-Sisi and President Xi will witness the signing of economic agreements between their countries in areas such as electricity projects, construction of new administrative capital in Egypt among others.
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PL-24