Egypt and China sign key trade agreements
Africanews · New
Africanews
New
Egypt and China entered into three financial cooperation agreements on Thursday. The main topics of discussion included the creation of agreements to facilitate trade in local currencies and the settlement of bilateral commercial payments in Egyptian pounds and Chinese yuan.
BreakdownGenerated by LeadStory AI
- Egypt and China signed three financial cooperation agreements.
- The agreements focus on facilitating trade in local currencies and settling payments in Egyptian pounds and Chinese yuan. 6s
- A protocol links the Suez Canal Bank with Chinese financial institutions to encourage the use of yuan in the Sino-Egyptian Economic Cooperation Zone. 24s
- Both countries aim to enhance the presence of their banks in each other's markets to boost joint investments. 40s
- The agreements are intended to support stable and sustainable economic growth for both nations. 46s