Egypt, China’s CDB probe inking framework agreement

Vice Executive Director of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab discussed with the China Development Bank (CDB)’s regional director for Africa the possibility of inking a framework agreement between the Ministry of Investment and International Cooperation and the CDB.

The framework agreement is set to foster bilateral cooperation and lure more foreign investments into Egypt, the Ministry of Investment and International Cooperation said in a statement Friday.

The meeting, held on the sidelines of the China International Import Expo, touched on the importance of Egypt-China relations and the development they have been witnessing after signing the comprehensive strategic partnership agreement between the two countries.

The two sides also discussed the Chinese firms’ keenness on taking part in the implementation of national mega projects launched by the Egyptian government, particularly, the New Administrative Capital and the Suez Canal Corridor.

Source: Ahram Online