21 August 2019 09:40 AM

Sisi : My 6th visit to China reflects depth of relations

Friday، 26 April 2019 - 10:21 AM

President Abdel Fattah El Sisi asserted that his current sixth visit to China is the best proof of the depth of relations between the two oldest civilizations in human history, citing the announcement in 2014 of elevating Egypt-China relations to the level of comprehensive strategic partnership and agreeing on implementing it through a five-year executive program that entered into force in 2016.

Addressing the second Belt and Road Forum for International Cooperation, he also said that his keenness on participation in this international event’s inauguration shows the great attention Egypt gives to the Belt and Road Initiative.

President Sisi affirmed that the goals of the Belt and Road Initiative are consonant with Egypt’s efforts in carrying out mega projects that aim at achieving great profits and creating lots of investment opportunities, coming on top of which is the Suez Canal Development Corridor that targets turning the Suez Canal region into an industrial, commercial and logistical hub that offers huge investment potentials to Chinese companies and to the B&R countries and all other countries of the world who wish to benefit from Egypt’s strategic geographical location to serve global trade especially trade with countries in the Arab world and in Africa and Europe that are connected with Egypt by free trade agreements.

Lauding the B&R Initiative, Sisi said that it covers a wide range of sectors that are vital for the implementation of Egypt Vision 2030 for sustainable development and most importantly for improving its transport, energy, information technology infrastructures and interconnectivity projects. It also aligns with the Egyptian developmental priorities, he added, noting that the initiative assists in stimulating economic growth, boosting the industry as well as shoring up Egypt’s trade and economic cooperation, increasing its trade movement, consolidating its financial integration and promoting its people-to people interaction and cultural exchange with other countries around the world.

The president expounded in his speech at the forum Egypt’s ambitious economic reform program which is based on carrying out a package of financial and monetary measures that aim at redressing structural imbalances, fixing the public budget and providing a favorable atmosphere capable of attracting foreign investments, noting that the steps taken by Egypt so far have started to pay off and this has been reflected in the rise of the macroeconomic indicators of the national economy.

He also said that Egypt has remarkably developed its ability to produce energy and diversify its sources in a way that qualifies it to become a regional energy hub.

Sisi pointed out that Egypt’s vision towards consolidating Arab cooperation and integration is consistent with the B&R Initiative and underlined the outstanding progress witnessed in Arab-Chinese and African-Chinese relations since the convocation of the first B&R summit in May 2017, citing the convening of the successful 8th Sino-Arab cooperation forum in July 2018 and the Sino-Afro cooperation forum in September 2018.

The president welcomed all efforts and partnerships made within the framwork of the B&R Initiative with the aim of helping countries of the Arab region and Africa to realize their sustainable development goals and improve life for their peoples.

He shed light on efforts to implement Africa’s north-south corridor “the Cairo/Cape Town highway”, noting that this Great North Road in sub-Saharan Africa will speed up regional integration and increase regional trade.

He said as well that he looks forward to establishing partnerships while implementing a navigational shipping line stretching from Lake Victoria to the Mediterranean Sea through the Nile River, urging international companies and financing institutions working within the B&R Initiative to contribute to this huge venture that will render great economic and commercial benefits to many African countries.

The president said his keenness on taking part in this forum emanates from the belief that the common factors that bring together the B&R Initiative countries and the challenges facing them should form the foundation for their multilateral cooperation to achieve the aspirations of their peoples and serve their development and stability efforts.

Concluding his speech, he wished success to the forum, hoping that it will lead to practical results that will contribute to fostering future cooperation and interaction among the B&R nations and boosting their sustainable development strategies.

MENA

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