Chinese President Signs Deals with Egypt

Cairo, AFP, Jan. 21, 2016:  Chinese President Xi Jinping signed a slew of trade deals with Egypt’s leader Thursday as part of a regional tour aimed at bolstering Beijing’s economic ties and clout in the Middle East.
After arriving late Wednesday from Saudi Arabia, Xi held talks with Egypt’s President Abdel Fattah al-Sisi and was to address the Cairo-based Arab League.
State television broadcast live the signing of 21 bilateral agreements at a presidential palace in Cairo in the presence of the two leaders.
Earlier Thursday state-run newspaper Al-Ahram reported that the deals were worth $14 billion in the electricity, transportation, agriculture, civil aviation and housing sectors.
In an article in Al-Ahram ahead of his visit, Xi expressed China’s backing for Egypt running its affairs without outside interference.
“China supports the people of Egypt in making independent choices for the future of their own country,” he wrote.
He also said China supported Egypt “playing an active role in regional and international affairs”.
Xi’s regional tour, his first to the Middle East as president, will take him next to Iran.
China, the world’s second-largest economy, also relies heavily on oil and gas imported from the energy-rich Middle East.
As well as addressing the Arab League, Xi was to visit Egypt’s newly convened parliament, which was sworn in earlier this month after elections dominated by pro-government candidates.
In Saudi Arabia, Xi met with King Salman and oversaw the opening of a joint-venture oil refinery in the Yanbu Industrial City on the Red Sea.
Saudi Arabia is China’s biggest global supplier of crude.
Saudi Arabia and a number of its Sunni Arab allies broke diplomatic ties with Tehran earlier this month after angry Iranian regime backed mobs ransacked Saudi diplomatic missions in Iran.
Iran and Saudi Arabia back opposing sides in a range of Middle East conflicts, including in Syria and Yemen, and there are fears the row could derail diplomatic efforts to resolve them.
Xi was expected Friday in Iran, just days after sanctions were lifted when Tehran implemented its historic nuclear deal with world powers.
China, with the United States, Britain, France, Germany and Russia, was among the countries that reached the agreement with Iran in July to curtail its nuclear activities in exchange for ending international sanctions.