Egypt’s PM participates in opening session of 3rd Belt & Road Forum in Beijing

Egypt’s Prime Minister Moustafa Madbouly participated on Wednesday18/10/2023 in the opening session of the third Belt and Road Forum for International Cooperation (BRF2023) in Beijing, on behalf of President Abdel Fattah al-Sisi.

Speaking at the opening ceremony, Chinese President said “Belt and Road cooperation, robust and fruitful in its first decade, is now full of dynamism and vitality. We must embark with drive and enthusiasm on the new journey toward another golden decade.”

Lauding the achievements in the past decade, Xi said the BRI has delivered thousands of practical cooperation projects, and produced solid and substantial results.

Upholding the Silk Road spirit characterized by peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit, China and BRI partners have worked together to contribute to global connectivity, build platforms for international economic cooperation, and add momentum to world economic growth over the past 10 years, he said.

Xi promised that two Chinese-backed development banks – the China Development Bank and the Export–Import Bank of China – will each set up 350 billion yuan (dlrs 47.9 billion) financing windows. An additional 80 billion yuan (dlrs 11 billion) will be invested in Beijing’s Silk Road Fund to support BRI projects.

“We will comprehensively remove restrictions on foreign investment access in the manufacturing sector,” Xi said.

He said China would further open up “cross-border trade and investment in services and expand market access for digital products”.

Representatives from nearly 140 countries and 30 plus global organizations are attending the forum, which marks the 10th anniversary of the Belt and Road Initiative.

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