Mubarak to Chinese media: Egypt extends the hand of friendship to all far from the policy of axes and alliances

In an interview with representatives of Chinese media, President Mubarak said Egypt is keen on making China its number one trade partner in 2010, pointing out that Egypt's exports to the Chinese market aim at correcting the trade balance deficit which has reached $ 1700 million.

President Mubarak said Egypt is looking forward to promoting cooperation with China in new domains including the peaceful use of nuclear energy and space technology. As for Egypt's quest for peace and development, President Mubarak said Egypt is extending hand of friendship to everyone and is steering international relations in a way that serves its higher interests and the interests of the region as well.

The President asserted the fact that Egypt steers away from the policies of alliances and pacts and maintains relations of friendship and cooperation with everyone.

President Mubarak said the Chinese-African cooperation forum to be held early next month is an important event that gives Africa and China a good chance to tackle aspects of cooperation and enhance relations which date back half a century ago.

He added that his visit to China aims at giving a strong momentum to Egyptian-Chinese cooperation especially in the fields of trade, economic and investment cooperation. Egypt was the first Arab and African nation to recognize the People's republic of China in 1956, he said, asserting that ever since the two nations have been developing political relations and coordination at the various international forums.

He asserted the fact the cooperation relations still do not cope with the great potentials available, referring to the volume of Chinese investments in Egypt which do not exceed $ 195 million, China's investments in Africa are more than $ 38 billion, he said.

The President pointed out to Egypt's efforts to create an investment-attractive environment through carrying out numerous reforms in the customs, taxes and banking sectors. Egypt gives special concern to Chinese investments especially in the economic zone in north Gulf of Suez, he added.

African-Chinese relations have realized progress over a half century in terms of politics and economy. President Mubarak said, referring to cooperation between the two sides in the fields of trade, investment and culture. President Mubarak said he was looking forward to having the Chinese-African Cooperation forum enhance Chinese cooperation 'with Africa in conformity with the New Partnership for Africa Development (NEPAD) initiative.

The President asserted that relations between Egypt and China are having strong basis and a mutual wish to realize cooperation in the various domains.

It is necessary to activate a number of agreements and memorandums of understanding for the sake of cooperation in the various fields, the president said.

President Mubarak expected China to become Egypt's number one trade partner in 2012, asserting that both nations will seek to have trade exchange reach $ five billion and Chinese investments reach $ 2 billion before that date.

The President said he was looking forward to enhancing cooperation in different domains of priority which includes the peaceful use of nuclear energy and space technology.

Responding to a question on means of promoting Egyptian- Chinese relations in the economic and trade domains, President Mubarak underlined on this score the role of investors and businessmen in both countries.

As for investments, Mubarak noted that an important step along the road of boosting bilateral relations was taken in September through signing an agreement on setting up n Egyptian- Chinese Company for developing exclusive industrial zones in northwestern the Gulf of Suez.

President Mubarak said Egypt is keen on promoting its relations with China.

Egypt, in its quest for peace and development, is stretching out its hand to everybody and seeks to have friendly relations with all countries of the world away from the policies of alliances and axes, said Mubarak.