Egypt, China Ink 3 Mous to Strengthen Economic Bilateral Ties

Egypt has signed three memorandums of understanding (MoUs) with the Chinese National Development and Reform Commission (NDRC) and the China International Development Cooperation Agency (CIDCA) to strengthen Egyptian-Chinese relations, the Ministry of Planning, Economic Development, and International Cooperation announced.

The signing took place during the visit of Egypt’s Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat to the Chinese capital Beijing to participate in the second edition of the Conference of the Forum on Global Action for Shared Development, organized by CIDCA.

The conference aims to promote cooperation among Southern countries, expand joint work between China and Southern nations, particularly in Africa, and create new partnerships within the framework of the Global Development Initiative (GDI), previously launched by the Chinese president.

The first MoU was signed with the NDRC to expand mutually beneficial cooperation.

It aims to enhance economic collaboration through utilizing expertise related to macroeconomics, industrial development, renewable energy, technological innovation, and sustainable development.

As part of the agreement, several workshops, seminars, and training programmes will be organized to utilize China's experience in reform and development.

Additionally, it will include capacity-building and training programmes, among other cooperative initiatives.

By the end of last June, Chinese training programmes have organized over 70 training sessions, with the participation of 420 government officials.

Al-Mashat signed a second MoU with the NDRC to strengthen collaboration in implementing the BeiDou Navigation Satellite System (BDS), due to its importance in fostering economic and social development and enhancing living conditions.

She signed the third MoU with the chairman of CIDCA for strengthening and expanding mobility and assistive technology products manufacturing and service provision through establishing a centre of excellence for persons with locomotor disabilities in Egypt.

This agreement includes two elements: one focuses on enhancing human capacity and providing the necessary technical support; the other targets supplying equipment and devices complementary to technical specifications

. During her meeting with the chairman of CIDCA, Al-Mashat highlighted the importance of progressing with the implementation steps of the debt-for-development swaps MoU signed with the agency in October 2023. Egypt was the first country to sign this type of MoU with CIDCA.

During the first edition of the forum in 2023, Al-Mashat signed an MoU on the GDI with CIDCA, which included a clause to establish an administrative consultation mechanism and formulate a comprehensive development cooperation strategy between Egypt and China for three to five years.

Egypt aims to establish stronger ties with China and other members of the BRICS block.