🔶 Egypt and China expand cooperation in the Suez Canal region

🔶 Egypt and China expand cooperation in the Suez Canal region

Xi Jinping, the president of China, on his first trip to Egypt in more than a decade, was given an official welcome at the Al-Ittihadiya Presidential Palace in Cairo by Abdel Fattah el-Sisi, the president of Egypt, along with the firing of 21 ceremonial cannon shots.

According to reports, el-Sisi and Xi Jinping reached an agreement on Wednesday, September 2 (11 Shahrivar), on increasing the volume of Beijing’s investments in the Suez Canal Economic Zone.

In this regard, the Egyptian presidency’s office announced that the two countries, both members of BRICS—an international group led by emerging economic powers—had signed an agreement to begin the third phase of the Egypt–China industrial zone. According to Egyptian officials, the zone to date has hosted about 200 companies and nearly $4 billion in investment.

Egypt has not yet announced a figure for the amount of new investments. However, it appears that this agreement will strengthen China’s position in the Suez Canal region. This strategic route has gained greater importance amid the war between the United States and the Islamic Republic and the threat to global maritime trade.

According to reports, in the discussions between the two heads of state, the war between the United States and Iran was also raised. Based on statements by the Egyptian presidential spokesperson, el-Sisi and Xi called for “diplomatic solutions” and for reaching “a comprehensive agreement to end the war.”

During this visit, several other agreements were also signed between the two countries, but their details were not announced.