Mutual cooperation between Egyptian and Japanese businessmen

The Egyptian Industrial Union has endorsed several agreements for mutual cooperation between Egyptian and Japanese businessmen on the margins of the visit of Egyptian President Hosni Mubarak to Tokyo, which concluded yesterday morning.

A statement released by the Egyptian Industrial Union said today that a contract was signed to establish a factory to manufacture air conditioners, with investments of $50 million.

The statement said the Japanese side will contribute 30% of the total investments in this factory and the establishment of a factory for iron in north Suez Gulf, as well as a factory for industrial fabrics with investments of $300 million in Suez.

It will also help establish a factory for manufacturing components for systems of kidney dialysis by using the Japanese technology instead of importing these system from abroad.