Arab Finance: Egypt has signed three memoranda of understanding (MoUs) with China to enhance joint relations in various areas of mutual interest, as per a statement.

The first MoU, signed between Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat and the Vice Chairman of the National Development and Reform Commission (NDRC), aims to enhance cooperation in exchanging expertise and fostering mutual economic growth.

This includes collaboration in macroeconomics, industrial development, renewable energy, technological innovation, and sustainable development.

The agreement also entails organizing workshops, seminars, and training programs to benefit from China's experience in reform and development.

The second MoU focuses on applying the Beidou Satellite Navigation System (BDS) in Egypt.

This system is crucial for achieving economic and social development and improving the living conditions of the Egyptian people.

The third MoU, sealed between Al-Mashat and Chairman of the China International Development Cooperation Agency (CIDCA) Luo Zhaohui, aims to enhance the manufacturing and provision of assistive technology products for people with mobility disabilities in Egypt.

This project involves establishing a center of excellence that will focus on capacity building, technical support, and providing necessary equipment and devices.

In 2023, Egypt was the first country to sign a debt swap agreement for development with CIDCA.

The agreements will also see the development of an integrated strategy for bolstering cooperation between Egypt and China for the next three to five years.

 

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