(AFP Photo / MARK RALSTON)
In August 2012, former Islamist President Mohamed Morsi met his Chinese counterpart, Hu Jintao in a move that was deemed fruitful. Both presidents signed seven cooperation agreements for major projects that targeted boosting Chinese investment, including industrial and technological development projects.
Morsi was accompanied by seven ministers and many Egyptian businessmen, and they signed a $200m loan to be used in investment projects.
China additionally granted Egypt a non-refundable grant worth $70.31 million to be used for mutual infrastructure, construction of power plants and environmental projects. China also donated Egypt 300 police cars.
The new agreements focused on enhancing mutual understanding and co-operation between the two countries in various fields, which included: agriculture and exportation of agricultural technology; environment; telecommunications and internet development; and tourism.
In December 2013, then Egyptian foreign minister Nabil Fahmy visited Chinese capital Beijing, where Chinese Vice President Li Yuanchao announced his country would give Egypt a $24.7m non-refundable grant.
The vice president reportedly said at the time that China was ready to upgrade its relations with Egypt in the political, economic, commercial and military fields and on the official, parliamentarian and popular levels.
Fahmy, during his visit, reiterated Egypt’s respect for China’s “supportive” stance. He added that Egypt was keen on diversifying its foreign options without affecting its already-existing relations, which “would cement the independence of state decisions”.
President Abdel Fattah Al-Sisi is currently visiting China, in a move that is expected to be returned by the Chinese President in March 2015.
