The photo on the wall of Dr Sattar Eshrah's office reminds it
was taken at a seminar where the Egypt-China Business Council was
established in 2002.
Eshrah, secretary general of the Cairo-based council, has fond
memories of his three trips to China.
When visiting Beijing during the Forum on China-Africa Cooperation last
November, Eshrah was impressed with the huge changes that have
taken place in China since he firstly visited there with Egyptian
President Hosni Mubarak in 2002.
Eshrah hailed the efforts of the Chinese government to increase
farmers' income, reduce the gap between the rich and the poor,
achieve balanced and sustainable social economic development and
build a harmonious socialist society.
"This government constantly with new ideas is very good in
regard to political leadership performance," Eshrah said. He said
he believed the Chinese economy will continue to grow at a high
rate.
"China's social and economic development experience is very good
and worthwhile for Egypt to learn," Eshrah said.
The secretary general also mentioned a draft property rights law
to be tabled for approval at China's annual National People's
Congress, saying that with the enactment of the law, China's
private sector are set to boom.
On the draft law on unifying corporate income tax for both
domestic and foreign companies, Eshrah said foreign investments
enter a country not only because of its beneficial tax rate, but
also because of other factors including market size, the economy's
growth rate, labor costs, civilian income as well as transportation
and infrastructure.
In 1956, Egypt became the first Arabic and African country to
establish diplomatic relations with China and it welcomes Chinese
investment. From Egypt, Chinese companies could expand to the
Middle East, African and European markets and enjoy the benefits of
free tariffs thanks to Egypt's trade deal with the EU and the
Common Market of Eastern and Southern Africa, he said.
Eshrah said the Egypt-China Business Council will spare no
effort in promoting cooperation between Egyptian and Chinese
companies, bilateral trade and investment.
(Xinhua News Agency March 8, 2007)
