00:00Egypt and China entered into three financial cooperation agreements on Thursday.
00:06The main topics of discussion included the creation of agreements to facilitate trade in local currencies
00:12and the settlement of bilateral commercial payments in Egyptian pounds and Chinese yuan.
00:18Three protocols were signed, one of which links the Suez Canal Bank with the China-Africa Teda Investment Company
00:25and the Chinese cross-border inter-bank payment system aimed at encouraging the use of Chinese yuan in the Sino-Egyptian Economic Cooperation Zone.
00:36Additionally, both countries stressed the significance of enhancing the presence of Chinese banks in Egypt
00:42and Egyptian banks in China to bolster joint investments and support stable and sustainable growth for both economies.
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