On the Eve of the China-Africa Summit in September H.E. Dr. Rania A. Al-Mashat Discusses Enhancing Chinese Investments and Belt and Road Partnership with Chinese Vice Minister of Finance

As the China-Africa Forum Summit approaches, scheduled for September, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Liao Min, Vice Minister of Finance of China and Alternate Governor at the New Development Bank, on the sidelines of her participation in the Ninth Annual Meeting of the Bank’s Board of Governors, held under the theme “Investing in a Sustainable Future” in Cape Town, South Africa.

 

During the meeting, Al-Mashat applauded the strategic partnership between Egypt and China, which is reflected in their joint cooperation across various fields. She noted her participation in July at the High-level Conference of the Forum on Global Action for Shared Development in Beijing, China, which saw the signing of several cooperation documents.

 

Al-Mashat highlighted the importance of joint cooperation between the two sides under the umbrella of the New Development Bank, which fosters constructive and effective partnerships between developing and emerging countries. This collaboration aims to advance global development efforts and enhance the exchange of developmental experiences, particularly in line with China’s initiatives, including the Belt and Road Initiative and the Global Development Initiative; consistent with the priorities of Egypt’s development goals.

 

The two sides discussed the activation of the memorandums of understanding signed by Dr. Al-Mashat during her visit to China in July. They also explored available investment opportunities between Egypt and China, noting that China is a key investor in the Suez Canal Economic Zone through the “Teda” zone, which hosts many Chinese companies. In this context, Dr. El-Mashat emphasized that Egypt serves as China’s gateway to Africa in terms of trade and investment, and there are additional opportunities for cooperation between the two sides.

 

It is noteworthy that during her visit to China in July, Al-Mashat signed memorandums of understanding with the National Development and Reform Commission (NDRC) and the China International Development Cooperation Agency (CIDCA).

 

The first memorandum of understanding with the NDRC aims to enhance cooperation in knowledge exchange and mutual benefit, focusing on macroeconomic expertise, industrial development, renewable energy, technological innovation, and sustainable development.

 

The second memorandum with CIDCA targets the project to enhance and expand the manufacturing of assistive technology products and services through the establishment of a Center of Excellence for People with Mobility Impairments in Egypt. This project includes two components: the first focuses on improving human resources and providing necessary technical support through capacity-building programs, while the second involves supplying equipment and devices according to technical specifications.