China and Egypt Announce Five-Year Plan for Strengthening their Comprehensive Strategic Partnership
The People’s Republic of China and the Arab Republic of Egypt have jointly issued a five-year plan aimed at strengthening their comprehensive strategic partnership. Launched in Cairo on 21 January 2016, the proposal sees the two sides agree to strengthen their co-operation within the framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, two key initiatives earlier announced by China.
In terms of specifics, China is to support a number of the Egyptian government’s economic recovery programmes, including such key national projects as the development of the Suez Canal Corridor, as well as several other important projects as deemed economically viable by both parties. These are said to include electricity generation facilities, new and renewable energy projects, as well as transportation and infrastructure development programmes, notably railways, roads and ports. Additionally, the two countries will look to enhanced co-operation with regard to agriculture, agricultural processing, land improvement, fishery resources, electronics, electric power, glass fibre, banking, a range of industrial projects and several other advanced sectors.
In further moves, the two countries will seek greater co-operation in terms of production capacity, while strengthening bilateral investment ties, developing the China-Egypt Suez Economic and Trade Co-operation Zone, and nurturing financial co-operation between their respective financial institutions and enterprises.
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