Egypt, China sign trade deals
2006-06-17 21:47
Cairo - Egypt and China signed 11 trade, business and co-operation agreements on Saturday, as Chinese Prime Minister Wen Jiabao began an African tour concentrating on energy supplies and economic relations.
In ceremonies at the office of Egyptian Prime Minister Ahmed Nazif, officials and businessmen from both countries signed deals to manufacture communications equipment, co-operate in the oil and gas sectors, simplify import procedures and rehabilitate a large Chinese-built conference centre in Cairo.
Wen's visit coincides with the 50th anniversary of diplomatic relations between Egypt and China - an event which folklore troupes from Egypt and China celebrated in a gala in front of the Giza pyramids on Saturday evening.
On his arrival in Cairo, Wen said relations between the two countries had "stood the test of time and international transformations".
China is a growing exporter to Egypt and Chinese vehicles have begun appearing in Egyptian markets.
Egypt to export liquefied natural gas
But the volume of Egyptian trade with China is still much smaller than its trade with the United States and some European economies.
Saturday's agreements include a deal to manufacture CDMA wireless local loop terminals between partially privatised state company Telecom Egypt and Chinese company Huawei Technologies.
An official document described Saturday's energy deal as "a framework agreement on co-operation in oil and natural gas".
Egypt is a significant exporter of liquefied natural gas to Europe and the US.
Wen will hold talks with Egyptian President Hosni Mubarak, who has visited China once in his 25 years as president, on Sunday.
He will then fly on to Ghana, Congo Republic, South Africa, Angola, Uganda and Tanzania, ending the tour on June 24.