Egyptian Chinese cooperation gains momentum
Egypt-China, Economics, 4/30/2002

The Egyptian Prime Minister Atef Ebeid and his Chinese counterpart Zhu Rongji inaugurated the first meetings of the Egyptian Chinese business council held in Cairo on April 20.

Zhu, leading a major delegation-grouping ministers of foreign affairs, planning, agriculture and irrigation besides 40 businessmen, signed three agreements with the Egyptian side for boosting joint cooperation.

The first agreement is related to economic and technological cooperation between the two sides, the second for setting up of a model school to teach the Chinese language, and the third agreement is a memo of understanding on cooperation in the livestock breeding field.

The two sides agreed to carry out joint projects in the fields of ready-to-wear clothes in Port Said, production prerequisites and export-oriented projects.

The council also agreed on establishing industrial waste factories to protect the environment and lower pollution rates.

Both Egypt and China further discussed means of activating joint cooperation in the fields of industrial production, marketing, tourism, health and medicines, training and education.

The council also decided to form joint committees to solve problems hindering the flow of trade between Egypt and China, as well as promoting joint ventures in the special economic zones in Egypt.

Ebeid said Egypt decided to accelerate steps to set up these zones in the northern Gulf of Suez, East of Port Said and west of Damietta, for which the government will provide all the necessary requirements.

New harbors, markets and infrastructure network will be established in the neighborhood of the would-be project in order to allow people from nearby areas to find new job opportunities.

The Chinese premier underlined the need for developing the strategic cooperation agreement signed in 1999 and the need for enhancing agreements signed last January during President Hosni Mubra'k's visit to China and the agreements signed in 1997.

Moreover, Head of the Egyptian Federation of the chambers of commerce, Khalid Abu Ismail said that the forthcoming period would witness joint cooperation with the Chinese side in the field of small and medium-scale industries, in which China realized highest development rates.

Both Egyptian and Chinese businessmen agreed on cultivating 6000 feddans with Chinese vegetables in Fayyoum Governorate.

Furthermore, a regular direct airline will be operated to encourage tourism between Cairo-Beijing-Shanghai.

Some Chinese businessmen are currently studying means of establishing a silk factory in Siwa over an area of 50,000 i feddans, besides establishing touristic environment-friendly villages.

Previous Stories:
  Egyptian-Chinese economic cooperation boom   (3/18/2002)
  Egyptian-Chinese business council considers setting up new 12 projects   (3/9/2002)
  Chinese businessmen team seeks boosting economic ties with Egypt   (3/6/2002)

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