At the first seminar of the New Development Bank in Egypt, Dr. Rania Al-Mashat, Minister of International Cooperation, met with Meng Ran, Deputy Director-General of the International Cooperation Department at CIDCA, to discuss efforts to enhance cooperation and follow up on ongoing partnerships in light of Egyptian-Chinese relations.
Both sides emphasized the importance of Egyptian-Chinese strategic relations, which have witnessed significant development over the past years since the initiation of comprehensive strategic partnership relations in 2014, particularly in light of the mutual commitment of both countries' leaderships to advancing common interests through further partnerships.
H.E. Minister Al-Mashat highlighted H.E. President Abdel Fattah El-Sisi's visit to China last May, reflecting the depth and strength of relations between the two countries and the shared commitment to their development across various fields, as well as enhancing coordination on various levels.
H.E. Al-Mashat pointed out that the partnership between Egypt and China has been reflected in many projects and investments implemented over the past decade, including pioneering infrastructure projects, increased Chinese investments in the Suez Canal region, and other areas, indicating significant prospects for future cooperation in light of the Belt and Road Initiative and other areas of collaboration.
Discussions also focused on activating the Debt-for-Development Swap Memorandum of Understanding, which was signed between the Ministry of International Cooperation and the Chinese Agency under the patronage of the Prime Minister on the sidelines of the Third Belt and Road Forum Summit in China in October 2023. The program is the first of its kind with China.
Meng conveyed greetings from the President of the CIDCA to Dr. Rania Al-Mashat, Minister of International Cooperation, and appreciated Egypt's participation in Forum on Global Action for Shared Development held in China, last July. She also invited Minister Al-Mashat to participate in the second edition of the forum scheduled for next July, aimed at discussing enhancing joint work to implement the "Global Development Initiative" proposed by the Chinese President in 2021, with the aim of redirecting global development towards a new phase of balance and comprehensive coordination to address global shocks and enhance global developmental partnerships on a fairer and more balanced basis.
It is worth mentioning that Dr. Rania Al-Mashat, Minister of International Cooperation, visited China in July 2023, and witnessed the signing of four cooperation documents to facilitate Chinese grants for the supply of equipment to the Ministry of Transportation, the establishment of a vocational training center in the Suez Canal Economic Zone, and the preparation of a feasibility study for the third-level Bio-safety Laboratory for the Ministry of Health.
It is noteworthy that the total cooperation portfolio with China amounts to about $1.7 billion to implement various projects in various developmental sectors, including electricity, health, education, vocational training, and others. Recently, the Minister of International Cooperation witnessed the completion ceremony for the assembly and testing of the Misr Sat 2 satellite in cooperation with the Chinese side at the Egyptian Space Agency headquarters.