Egypt and China’s Growing Economic Bond: 5 Geopolitical Effects You Need to Know

1. Sisi approves economic deal with China

Egyptian President Abdelfattah El Sisi has long been trying to diversify Egypt’s economy and increase trade, reducing reliance on the US, and issued a decree sanctioning an economic and technical cooperation deal between Egypt and China last month, which was signed in September last year, MENA reported. China, under the deal, will grant Egypt a 100 million CNY to implement projects upon which the two sides would agree. The deals tackle several domains, including the industrial quality, a Chinese loan, and cooperation in projects such as the electric train, along with a grant for manufacturing an Egyptian satellite. This is a positive sign for the Egyptian economy as it will supplicate its growth and bring new products and services to Egypt.

2. China and Egypt bonded by mutual understanding

Chinese Ambassador to Egypt Liao Liqiang said last week that despite the geographical distance between China and Egypt, the two countries are bonded by mutual trust, support and understanding. “Whenever Egypt suffers predicament, it will always find China standing by it to support its just causes,” Liao wrote in an article published in Egypt’s state-run newspaper Al-Ahram on Monday. The Chinese ambassador also said that his country will never forget Egypt’s support for China to regain its legitimate seat at the United Nations during the 1970s. This shows China’s willingness to expand ties, not only from the economic point of view but also diplomatically.

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