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China, Egypt endorse One Belt Silk Road project
April 14, 2017, 1:33 pm

China and Egypt have long enjoyed strong close ties; in September, President Sisi was one of a handful of leaders invited to the G20 Summit in China [Xinhua]

China and Egypt have issued a statement endorsing the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative, known as the Belt and Road Initiative.

Sun Chunlan, head of the United Front Work Department of the Communist Party of China (CPC) Central Committee, met with Egyptian President Abdel-Fattah El-Sisi on Wednesday and discussed the long-lasting strength of ties between the two countries.

The two countries have traditionally focused on promoting six major fields: political trust and mutual support, practical cooperation in all fields, promoting exchanges and cooperation, strengthening cooperation in anti-terrorism and law enforcement security, and improving the exchanges of culture, tourism and other fields.

The two countries have also established mutual support and cooperation in international and regional affairs.

Sun’s visit comes three months after a currency-swap deal worth about $2.6 billion was signed by both countries – a move aimed at bolstering economic activities in the cash-strapped North African nation.

The deal is worth 18 million yuan and will last three years, with a possibility for extension upon agreement of both sides, Egypt’s Central Bank said in a statement.

“China attaches great importance to developing friendly relations with Egypt and regards Egypt as an important partner in promoting the Belt and Road Initiative,” Sun said. China first enlisted Egyptian support for the Initiative when El-Sisi visited Beijing a little over two years ago.

China’s One Belt, One Road initiative aims to create a modern Silk Road Economic Belt and a 21st Century Maritime Silk Road to boost trade and extend its global influence. China has put in place a $40 billion Silk Road Fund to boost infrastructure projects along the route.

The ancient Silk Road connected China and Europe from around 100 B.C. The 6,000-km road linked ancient Chinese, Indian, Babylonian, Arabic, Greek and Roman civilizations.

A new map unveiled by Chinese news agency Xinhua shows the Chinese plans for the Silk Road run through Central China to the northern Xinjiang from where it travels through Central Asia entering Kazakhstan and onto Iraq, Iran, Syria and then Istanbul in Turkey from where it runs across Europe cutting across Germany, Netherlands and Italy.

The BRICS Post with inputs from Agencies

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