The Afro-Asian Economic Council (AAEC) informed that it will launch a development project, aiming to connect Egypt and other North African countries to China’s Belt and Road Initiative. This projects aspired to improve Egypt’s position as strategic navigational and land corridor in the world.
Head of the AAEC Tareq bin Eid Al Obeid said that the project will attract investments to Egypt and other North African countries which range from $2tn to $4tn. The project will try to develop many sectors in Egypt and North Africa and will increasing international shipping traffic through the Suez Canal.
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Moreover, Mr. Al Obeid, stressed that the project will increase the employment opportunities for Egyptians in all sectors and will promote Asian countries’ trade with North African countries.
This will enhance the political relations between the two continents, driving the process of global peace and prosperity among the countries of the regions, local media reported.
From his part, Saleh bin Hamad Al Anzi, AAEC vice president for Asia, outlined how important are the Silk City and the Kuwaiti islands to develop the Arab economy, especially as the Egyptian and Kuwaiti leaders want to make Egypt and Kuwait financial and trade centres.
The Belt and Road initiative is expanding. As a matter of fact, on Saturday 12 May, the first Silk Road train destined for Antwerp has arrived. The freight train, which had left the Chinese port of Tangshan on 26 April, links China and Antwerp as part of the transnational Chinese Belt and Road Initiative.
