Beijing supports Egypt in protecting its water security

The presidents praised the significant progress in relations between Egypt and China in recent years, following the establishment of their comprehensive strategic partnership in 2014.

They emphasized the importance of leveraging the 10th anniversary of this partnership to elevate their bilateral relations to new heights through increased high-level visits and cooperation between governments, legislative bodies, and local administrations of both countries. This effort aims to support mutual interests and fulfill the aspirations of their friendly peoples, fostering the goal of building a shared future community in the new era.

The presidents expressed satisfaction with the fruitful results of the comprehensive strategic partnership, which has contributed to development and prosperity in both countries. China has participated in numerous major economic projects in Egypt, particularly in infrastructure, transportation, railways, shipbuilding, construction, investments, and space sciences.

These include the construction of the financial district in the New Administrative Capital, launching the 10th of Ramadan electric train, investments in the Egyptian-Chinese TEDA industrial zone in the Suez Canal Economic Zone, and the launch of the EgyptSat-2 satellite. Additionally, financial cooperation was enhanced with the extension of the local currency swap agreement and Egypt's successful issuance of Panda bonds in China.

The countries also increased coordination in international economic forums, including Egypt's accession to the Asian Infrastructure Investment Bank and hosting its annual meeting in 2023, joining the New Development Bank in 2023, and becoming a member of BRICS in 2024.

Marking the 10th anniversary of their comprehensive strategic partnership, Presidents el-Sisi and Xi announced the launch of the "Egyptian-Chinese Partnership Year," which will feature various diplomatic, economic, commercial, investment, cultural, and tourism events aimed at advancing bilateral relations in all fields.

The presidents appreciated the signing of the executive program for the comprehensive strategic partnership for the next five years (2024-2028) in January 2024, which outlines a roadmap for developing bilateral relations to a higher level based on past achievements. The program emphasizes the importance of localizing industry and transferring technology as priorities for Egyptian-Chinese cooperation in the coming years.

It calls for expanding Chinese industrial investments in Egypt, including in electric vehicle manufacturing, electronic devices, solar panel production, chemical industries, and building materials, as well as modern agricultural technology.

The program also seeks to balance trade by allowing more high-quality Egyptian products into the Chinese market, facilitating the entry of Chinese production inputs for manufacturing final products in Egypt, and exploring ways to settle trade transactions in local currencies.

Additionally, it aims to boost Chinese tourism to Egypt and encourage direct Chinese investments in hotel construction and management, as well as enhancing media, cultural, scientific, artificial intelligence, and academic cooperation.

The presidents directed the relevant authorities in both countries to hold technical talks to implement the leaders' understandings on strengthening bilateral relations, including holding the joint governmental committee at the earliest opportunity.

Both sides valued their mutual support on core issues, standing by each other to defend shared principles and fundamental interests, and jointly facing global challenges, notably the COVID-19 pandemic and its negative impacts on developing countries.

The presidents stressed the importance of steadfastly supporting each other’s vital interests and addressing specific concerns, including combating terrorism. The Chinese side reiterated its continued support for Egypt's legitimate right to maintain its national sovereignty and territorial integrity, reject external interference in its internal affairs under any pretexts, and uphold its legitimate rights to secure its water and food security and developmental interests.

The Egyptian side reaffirmed its unwavering commitment to the One-China principle, recognizing Taiwan as an integral part of China, supporting China’s sovereignty and territorial integrity, endorsing the reunification of China, and rejecting external interference in China's internal affairs.