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Egypt reaffirms support to China's B&R Initiative

IANS  |  Cairo 

Egypt has reaffirmed its support to China's Belt and Road (B&R) Initiative and called for increased Chinese investment, a media report said.

"Egypt supports the Belt and Road Initiative that connects China with the world's continents through massive networks of land and sea routes," Ibrahim Mahlab, Egyptian President's assistant for strategic and national projects, told a forum in Cairo on Monday , Xinhua news agency reported.

Describing the China-Egypt ties as "strong, unique and sustainable", Mahlab expected the initiative to "restructure the traditional models of world trade".

Highlighting the significance of Egypt's strategic location for the Belt and Road Initiative, Mahlab said "being a central point between Africa and Asia, Egypt is also a focal axis of Arab and African trade".

He noted that Egypt has carried out massive infrastructure projects over the past three years that have greatly upgraded the country's energy supplies and road networks which could help future investors in the country.

Egyptian and Chinese officials, businessmen, representatives of financial and economic institutions as well as a delegation from the Communist Party of China on Monday attended the forum entitled "Belt and Road... Together for Better Future".

Proposed by Chinese President Xi Jinping in 2013, the initiative, officially called the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims at building trade and infrastructure networks along the ancient trade routes to link Asia with Africa and Europe.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 07 2017. 05:20 IST
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