Egypt, China sign cooperation agreements, MOUs

Egypt and China have signed a number of cooperation agreements during the summit that grouped President Hosni Mubarak and President Hu Jintao.

The first agreement addresses economic and technological cooperation between the two countries.

According to the agreement, China will offer Egypt a 50m Yuans grant to build a school at President Hosni Mubarak's hometown and establish a fish farm lab affiliated to Suez Canal University.

Another MOU was signed between the China Investment Promotion Agency and the Egyptian General Authority for Investment and Free Zones (GAFI). An agreement was also signed between a Chinese IT company and UAE's Etisalat Co. to establish the 3rd mobile provider company in Egypt.