Muharak attends the ceremony of launching Egyptian-Chinese business council

Egypt's President Hosni Mubarak Thursday morning attended the ceremony of launching the Egyptian-Chinese Business Council, which took place in a hotel in the Chinese capital.

The council is aimed at promoting bilateral trade and economic cooperation.

Attending the ceremony from the Egyptian side were Chairman of the Egyptian Chambers of Commerce Federation Khaled Abu Ismail and 62 senior Egyptian businessmen accompanying President Mubarak during his current visit to China.

From the Chinese side, attending were the deputy foreign minister, the deputy speaker of the People's Assembly and the chairman of the Chinese Council for Foreign Trade Development.

Minister of Foreign Trade Youssef Boutros Ghali, at the beginning of the ceremony, delivered a speech where he confirmed that economic and trade cooperation between the two countries became a strategic must.

Trade relations between Egypt and China started a new juncture specially after China joined the World Trade Organization, he pointed out.

China has recorded the highest economic growth rate in the world in the past year, said Ghali, noting that Egypt and other world countries are looking forward eagerly to the role to be played by China in the international economy.