$ billion trade agreements to be signed during Mubarak's visit to China
Egypt-China, Politics, 1/16/2002

Egyptian-Chinese new project-agreements, exceeding one billion dollar, are expected to be officially concluded during President Mubarak's prospective visit to China, later this month.

Those investments comprise gas and oil prospecting in Egypt for $900 million. Another project valued for $100 million will be launched for producing surgery threads, as well as enhancing the Egypt-China investment company.

Khaled Abu Ismail, chairman of the General Union of the Egyptian Trade Chambers, announced that a special agreement will be signed for setting up a joint Egyptian-Chinese Supreme Business Council. The council's main target would be promoting Egyptian exports to the Chinese market.

Again, the mentioned council will try to attract Chinese investments in a way to act directly in Egypt or via cooperation with Egyptian partners, especially as the Chinese government kicked off a fresh policy of encouraging Chinese investors, to have more activities invested abroad.

The Egyptian side in the council will be formed soon after the return of the Egyptian businessmen delegation that will pay a visit to China starting from January 20.

On the other hand, a meeting will be held today at the naval transport sector in Alexandria to revise the contracts and feasibility studies of the joint Egyptian-Chinese project of building passengers and goods vessels as well as another one for constructing huge containers.

An important treaty is also expected to be signed during President Mubarak's visit to China, i.e. that concerning procedures of Chinese tourist travels to Egypt. Actually, the Chinese side has already enlisted Egypt as a tourist destination for Chinese travel agencies. Such an agreement constitutes a significant step for resuming Chinese tourist journeys to Egypt as from next February.

Previous Stories:
  Chinese media highlight forthcoming visit of Beijing   (1/12/2002)
  China welcomes Mubarak's visit   (1/3/2002)
  Chinese welcomes anticipated vicit by Mubarak to peijing   (12/29/2001)

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