Egypt, China ink 3 financial cooperation agreements

The signing took place following a meeting between the two sides during Gongsheng's current official visit to Cairo.

The meeting, held at the CBE headquarters, underscored the growing strategic partnership between Egypt and China and explored mechanisms for expanding cooperation between their central banks.

During the talks, both sides discussed ways to strengthen coordination on various monetary and financial issues, including activating a local currency swap agreement, facilitating payment settlement in local currencies, exploring the issuance of Panda Bonds, and creating interoperability between their respective national payment systems.

The two governors also explored ways to increase the presence of banks from each side in the other’s financial system and to promote bilateral investment flows.

For his part, Abdalla expressed his appreciation for Gongsheng's visit and the deep-rooted ties between Egypt and China, highlighting the occasion as a valuable platform for exchanging expertise and reinforcing collaboration in banking and financial services.

He affirmed that this cooperation supports economic stability and advances sustainable development objectives for both countries.