FEI: Morsi’s Visit To China For Industrial Development Targets

Nagy Alber, Chairman of International Affairs committee of FEI, Federation of Egyptian Industries, said President Mohamed Morsi’s visit to Chine at the end of August aims at strengthening the cooperation ways of the industrial sector in particular, and establishing special rules for joint industries between the two countries during the coming period, as China has whopping investments in several countries.

The visit doesn’t aim at expanding the commercial field or importing the lousy commodities from China; causing more deterioration to the Egyptian economy. President Morsi’s visit, Alber explained, seeks enhancing the cooperation over the big industries; such as the engineering industries, especially the Egyptian car manufacturing project.

On the other side, the committee’s chairman referred to Morsi’s visit to Iran that it has a political aims rather than economic ones. It targets widening the cooperation ways with the countries of this region, so it will form a frame around Israel; referring that the former regime sharply dealt with Iran as they were having tenuous relations.

Alber expected the development between the two countries’ cooperation ties over the food industries sector, as this sector is enormously improved in Iran.