the Belt and Road > Investment

Closer partnership as "Belt and Road" meets Suez Canal corridor

BEIJING
2016-01-20 19:18

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Two great civilizations, one boasting the Great Wall while the other the Pyramids and both linked by the ancient Silk Road, are finding new opportunities to join hands for development.

As Chinese President Xi Jinping visits Egypt on the 60th anniversary of the establishment of bilateral ties, the traditional brotherhood and partnership is expected to be lifted to a new level.

China is advancing the Silk Road Economic Belt and the 21st-Century Maritime Silk Road proposed by President Xi in 2013 to open greater horizons for further trade and economic cooperation with the world including Arab countries.

On the other hand, the North African country is eager to "look to the east" amid efforts to find a development path fitting its own national conditions. Mutual demands have led to reciprocal cooperation. With plans to link the Belt and Road Initiative to Egypt's New Suez Canal economic corridor, fruitful cooperation is expected.

As Egypt's flagship project to spur the country's sluggish economy, the New Suez Canal economic corridor includes logistics and service projects, industrial parks, technology centers and tourist programs.

Bearing Egypt's hope of expanding international cooperation, the economic corridor will offer a new field for Chinese investment which has been growing steadily over the past years, even during periods when Egypt was suffering political and social upheaval.

The two sides have witnessed a success in building the Economic and Trade Cooperation Zone in the Suez Canal region. The new corridor is a starting point for greater success.

But the cooperation is not limited to Egypt's corridor. For China, Egypt is a vital logistics, commercial and industrial hub between the European, Arab and African markets. It plays an important role in the realization of the Belt and Road Initiative. For Egypt, which is at a key stage in modernization, China offers development experience, a big market, abundant capital, advanced technology and competitive industrial capacity.

By linking up respective development strategies, China and Egypt could deepen cooperation in energy, trade and investment, infrastructure and technology. This means more job opportunities for Egyptians and better chances to get on board the fast train of China's development.

It is worth noting that the Belt and Road Initiative is aimed at achieving common prosperity instead of the mere satisfaction of self-interests.

While promoting cooperation with Egypt and other Arab countries, China will continue to adhere to the stance of non-interference in the internal affairs of other nations and respect for the will of the Arab people.

Words proved by actions are most powerful. Sharing the common dream of national rejuvenation, China is ready to join hands with Egypt, more closely and more wisely.

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