Egypt and China agreed on preparing a memo on cooperation in the telecommunication and IT domain to be inked during a planned visit by Egyptian President Abdel Fattah El Sisi to China in September, the Egyptian telecommunication and IT minister said on Wednesday.

Yasser Qadi said the two countries agreed on opening new markets, fostering bilateral cooperation and boosting investments.

He underlined the importance of his current visit to China which is meant to enhance cooperation in various domains, especially in the communications and IT sector.

The Sino-Egyptian relations have been furthered after Sisi's visit to China two years ago in addition to the visit of Chinese President Xi Jinping earlier this year.

In statements to MENA correspondent in China, Qadi - who started his visit on Sunday - said the visit is meant to enhance cooperation with Chinese officials and companies and signing several important strategic agreements with China.

He added that Egypt has ambitious plans, including technological zones projects, noting that several meetings were held with officials from Tuspark, one of the worldwide leading holdings in the establishment of technology and science parks. 

Egypt seeks to draw on Tuspark expertise, especially in managing technological zones to be set up across Egypt - three in Upper Egypt and three in Delta.

Qadi said meetings were held with representatives from heavyweight companies operating in the fields of e-security.

He noted that the two countries agreed on signing several deals in these domains within the coming period.

The minister referred to the electronics initiative launched by Sisi by the end of December.

He said the visit offered a chance for meeting several Chinese companies.

Meanwhile, the minister said the Egyptian economy has the power to recover because it is flexible and has diversified resources.

The World Bank has recently announced that Egypt manged to become the second major African economy after Nigeria, he said, noting that this proves that the Egyptian economy can face all challenges.

On Tuesday, the minister had talks with his Chinese counterpart on means of enhancing bilateral cooperation and exchanging expertise.

Source: MENA