Egyptian President Abdel Fattah Al-Sisi flew to Beijing early Tuesday for a three-day trip where he is scheduled to meet with several Chinese government officials and businessmen.
The Egyptian President is set to meet with representatives from Huawei Technologies on Tuesday, as well as his Chinese counterpart Xi Jinping and Chinese Prime Minister Li Keqiang on Wednesday. On Thursday, Al-Sisi will attend a military celebration.
Earlier this week, Foreign Trade Minister Mounir Fakhry Abdel Nour said several business agreements with China will be signed. Abdel Nour told Daily News Egypt that the government will ratify a framework agreement, which was initially signed but not ratified on 15 June, about the planned cooperative projects between Egypt and China.
This will be in addition to agreements on a light train, which will link Cairo with Belbais via th 10th of Ramadan City, as well as a project to raise the efficiency of Egypt’s electricity network.
The minister added that the China Development Bank (CDB) will provide a loan of $100m to the National Bank of Egypt (NBE) to finance small and medium-sized enterprises (SMEs). A further grant of $30m will also be provided by China’s Ministry of Commerce for remote satellite sensing equipment.