ismailia (Egypt) - Chairman of the Suez Canal Economic Zone (SCZone) Mohab Mamish approved the signing of a framework agreement with a Chinese alliance, comprising the African-Chinese funding institution, the China Development Bank and Qingdao Port, in order to develop the Red Sea port of Sokhna to be commensurate with the SCZone development. In a statement on Friday 12/05/2017, Mamish said an SCZone delegation will attend the Belt and Road Forum due to open in Beijing on Sunday. The zone plays a pivotal role in linking China and Africa, he added. Mamish said the agreement falls within the framework of President Abdel Fattah El Sisi's agreement on Egypt's accession to the Silk Road initiative, referring to the January meeting between Sisi and his Chinese counterpart Xi Jinping in Cairo. He highlighted the importance of the forum to review the obstacles facing international and regional economies. He said the SCZone participation in the forum and the signing of the agreement will contribute to developing the ports in the zone and will help Egypt boast an important strategic and economic positions at the regional and international levels. Mamish added that this would open the door for key economic alliances and partnerships so that Egypt would become a pivotal state in international trade.
