PROMOTING DEVELOPMENT IN MIDDLE EAST
Xi's visit to Egypt, the second leg of his regional tour, is the first by a Chinese head of state in 12 years. The two sides are celebrating the 60th anniversary of the establishment of their diplomatic ties.
During Xi's visit, the two sides signed a five-year outline document to further advance their relationship.
According to the 18-page document, they will boost their cooperation in such fields as politics, trade and economy as well as military and security.
"China will continue to view and develop its relations with Egypt from a strategic and long-term perspective," Xi said in a signed article published on local newspaper prior to his arrival.
He proposed that the two countries work together to build the Arab nation into a pivot of the Belt and Road. To that end, Xi suggested, China and Egypt should align their development strategies and visions and focus on cooperation on infrastructure construction and industrial capacity.
Xi said China is willing to participate in Egypt's key projects including the development of the Suez Canal Corridor and the construction of a new administrative capital.
Xi also invited his Egyptian counterpart Abdel-Fattah al-Sisi to attend the Group of 20 (G20) summit in the Chinese city of Hangzhou in September.
While in Egypt, Xi delivered an important speech at the headquarters of the Arab League outlining Chinese approach to issues in the Middle East.
The Chinese leader said that the key to resolving differences in the Middle East is to enhance dialogue and that the key to overcoming difficulties in the region is to promote development.
He said that the Chinese government has decided to pledge 50 million RMB (7.53 million U.S. dollars) to help improve the livelihood of the Palestinians and 230 million RMB (about 35 million dollars) for Syria, Jordan, Lebanon, Libya and Yemen as humanitarian assistance.
Xi announced loan programs in support of development in the Middle East, including 15 billion dollars of exclusive loans, 10 billion dollars of commercial lending and 10 billion dollars of concessional loans, as well as joint investment funds worth a total of 20 billion dollars.
Xi said China is not trying to fill any "vacuum" in the Middle East.
"Instead of looking for proxies, China promotes peace talks in the Middle East; instead of seeking any sphere of influence, China calls on all nations in the region to take part in the Belt and Road Initiative; and instead of attempting to fill any 'vacuum', China aspires to build a network of mutually beneficial partnerships," he said.
ENHANCING ENERGY COOPERATION WITH SAUDI
The first leg of Xi's Middle East tour took him to Saudi Arabia, where he met with King Salman bin Abdulaziz Al Saud on Tuesday.
The two leaders agreed to upgrade the bilateral ties to a comprehensive strategic partnership.
Xi said, "I believe it will deepen the mutual strategic trust, lead to greater achievements in our mutually beneficial cooperation, and help facilitate and broaden our shared interests in international and regional affairs."
During his stay in Riyadh, the two sides signed a memorandum of understanding on industrial capacity cooperation, agreeing to pursue cooperation under the Belt and Road Initiative.
The two countries also signed a slew of cooperation deals covering such sectors as energy, communications, environment, culture, aerospace, and science and technology.
"I believe it will deepen the mutual strategic trust, lead to greater achievements in our mutually beneficial cooperation, and help facilitate and broaden our shared interests in international and regional affairs," Xi said on the upgrade of bilateral ties.
Energy cooperation is a key part of Xi's visit, during which the leaders agreed to build stable long-term energy cooperation. Saudi Arabia is China's biggest foreign supplier of crude oil.
When meeting with the head of the Cooperation Council for the Arab States of the Gulf (GCC), Xi said that China is willing to carry out comprehensive energy cooperation with the GCC countries and be a long-term, stable and reliable energy market for the six-member bloc.
Xi attended the launching ceremony of the Yasref oil refinery, a joint venture with a total investment of nearly 10 billion U.S. dollars. Chinese oil giant Sinopec holds a 37.5 percent stake in it.
The launch of the refinery conforms to not only Saudi national development plan, but also China's pursuit of cooperation with countries in the regions outlined in the Belt and Road Initiative, Xi said.
During Xi's visit, China and the GCC announced that they are committed to working closely to conclude a comprehensive free trade agreement (FTA) within 2016.
