Xi eyes to boost ME clout with Saudi, Egypt deals

Chinese President Xi Jinping yesterday signed a slew of trade deals with Egypt's leader as part of a regional tour aimed at bolstering Beijing's economic ties and clout in the Middle East.

After arriving late Wednesday from Saudi Arabia, Xi held talks with Egypt's President Abdel Fattah al-Sisi and was to address the Cairo-based Arab League.

State television broadcast live the signing of 21 bilateral agreements at a presidential palace in Cairo in the presence of the two leaders.

Earlier state-run newspaper Al-Ahram reported that the deals were worth $14 billion in the electricity, transportation, agriculture, civil aviation and housing sectors.

In an article in Al-Ahram ahead of his visit, Xi expressed China's backing for Egypt running its affairs without outside interference. He also said China supported Egypt "playing an active role in regional and international affairs".

Xi's regional tour, his first to the Middle East as president, will take him next to Iran.

Beijing has long taken a backseat to other diplomatic players in the Middle East but analysts say the region is crucial to Xi's signature foreign policy initiative -- known as "One Belt One Road" -- touted as a revival of ancient Silk Road trade routes.

China, the world's second-largest economy, also relies heavily on oil and gas imported from the energy-rich Middle East.

In Saudi Arabia, Xi met with King Salman and oversaw the opening of a joint-venture oil refinery in the Yanbu Industrial City on the Red Sea.

Saudi Arabia is China's biggest global supplier of crude.