Foreign Correspondence

[Amaunet]

China to work with Egypt to promote bilateral relations, says vice premier

Considering China’s great desire to control the major global shipping choke points, the growing alliance between Egypt and China cannot in my opinion be viewed as ordinary. The China/Egypt coalition is a means by which China may influence the Suez economic zone and to this end China will tenaciously guard its Suez investment.
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-Am

China to work with Egypt to promote bilateral relations, says vice premier

www.chinaview.cn 2004-11-22 02:33:04

CAIRO, Nov. 21 (Xinhuanet) -- China will work with Egypt to promote the development of bilateral strategic and cooperative relations, said Chinese Vice Premier Huang Ju at a meeting here Sunday with Egyptian President Muhammed Hosni Mubarak.

Huang said Egypt is an important cooperative partner of China among Arab and African countries, and bilateral relations, especially economic and trade cooperation, have witnessed positive progress with efforts from both sides under the direction in the new century mapped out by heads of the two countries.

Mubarak said Egypt and China boast sound political relations and there are vast potentials for bilateral economic and trade cooperation.

He said Egypt is building its Suez economic zone and it hopes to learn from China's experiences and strengthen cooperation with China.

He said the Egyptian government and he himself attach great importance to the strategic and cooperative relations with China, and are full of confidence in the prospects for bilateral ties.

In the talks here Sunday with Egyptian Prime Minister Ahmed Nazef, Huang made a four-point proposal for the further development of bilateral economic and trade cooperation.

The first is to enhance contacts between enterprises of the twosides and strengthen trade relations in their complementary fields.

The second is to expand bilateral cooperation in telecommunications, aviation and other high-tech areas, push forward energy cooperation, and encourage joint investment in other countries.

The third is to conduct better cooperation in the Suez economiczone and the Chinese side hopes that the Egyptian side will adjustits related policies to continue to create better conditions for bilateral cooperation.

The fourth is to continue expanding bilateral tourism cooperation.

Nazef held that Huang's proposal is pragmatic and he agreed with Huang.

Nazef said Egypt welcomes Chinese investment in the Suez economic zone in such areas as chemicals, textile and building materials, and hopes that both sides will strengthen cooperation in communications and pharmacy as well.

Egypt is the last leg of Huang's four-nation tour. He visited Luxembourg, Ireland and Turkey before arriving here Saturday evening. Enditem

http://news.xinhuanet.com/english/2004-11/22/content_2244328.htm


Introduction of the Suez Economic Zone Investment Environment


2004-9-10 15:26:00

Excerpt:
2. Advantages of the zone
Unusual location
- A stronghold in the traffic line connecting Europe, Asia and Africa; the Suez Canal flow southwards into the Mediterranean Sea via the zone, linking the Red Sea to the Mediterranean Sea;
- The zone exchanges goods with major Egyptian cities in the western and southern Nile valley;
- With its ports, the zone becomes an idea base for Egypt-made goods enter into Europe, America, Asia and the rest of Africa. Hence a crucial strategic point.

(2) Convenient transport
- Adjacent to the seaside highway;
- Its ports make it an ideal base for selling Egypt-made goods to Europe, America, Asia and the rest of Africa;
- Egypt’s largest cargo transport airport to be established here.

(3) Abundant natural resources: crude oil, natural gas, marble, limestone, aluminum, etc.

(4) Industrial development: the central area of the county’s petrochemical industry, as well as a newly emerged production base of building materials.

(5) Rich educated human resources
- A permanent population of some 650,000 in the Suez town, the largest city in Egypt;
- Several higher education institutions including Suez Canal University supports the annual demand for human resources;
- Basically acceptable level of local education;
- Highly available labor, but low average salaries: US$65-200.




http://www.chinafair.org.cn/Chinafair2004/WebSite/english/News/newsdetail.aspx?Id=10970