Suez Economic Zone Deepens China-Africa Cooperation
    2010-10-12 21:47:15      Web Editor: Bao Congying

Anchor: This year marks the tenth anniversary of the Forum on China-Africa Cooperation. Under the framework of the bilateral cooperation between the two countries, the Sino-Egyptian Suez Economic and Trade Cooperation Zone has taken an important step in attracting investments and training services.

CRI's Xu Weiyi has the report.

The Suez Economic and Trade Cooperation Zone is home to more than 30 Chinese enterprises.

At a recent contract signing ceremony, it celebrated the arrival of two more enterprises from China, a motor manufacturer and an auto parts company.

Meanwhile, Brilliance Automotive Company Limited, a well-known auto manufacturer in northern China, signed a letter of investment intent.

Yang Huiqun, Vice President of Brilliance Auto, says his company decided to open shop in the economic zone because the infrastructure services and preferential investment policies it provides are better than those offered by other industrial zones in Egypt.

"We had compared many economic parks in Cairo before finally deciding on the Suez economic zone because of its services. For Chinese enterprises, the Suez economic zone is a home away from home, and most importantly it has a better investment climate. Its generous support for enterprises and coordinated power system are what has attracted us to come here."

The economic zone was established in July 2008 by Tianjin TEDA Investment Holding Company and the China-Africa Development Fund under an initiative of the Chinese government.

Situated at the juncture of Asia, Africa and Europe, it covers an area of 60,000 square meters.
As an initial step, nearly a quarter of the area has already been put into use, forming a cooperation zone among petroleum equipment, electrical appliance, textile and automobile manufacturers as its pillar industries.

Moreover, the zone has set up a training center with the Confucius Institute of Suez Canal University as a way to further Sino-Egyptian exchanges and cooperation by teaching more Egyptians about China and the Chinese language.

Ahmed Amin, Chairman of the General Authority for the North-West Suez Gulf Special Economic Zone says Sino-Egyptian cooperation is also underway in other sectors in the zone.

"Since the completion of the construction, we have witnessed a continuous increase in investments, constant industrial growth as well as cooperation with the Confucius Institute. All these have demonstrated broad prospects for Chinese and Egyptian cooperation. With more investments in the future, we'll concentrate on other fields such as technology, training, and human resources."

As a key component of cooperation between China and Africa, the geographically-strategic Suez economic zone has formed a broad platform for the promotion of bilateral economic development.

Both the Chinese and Egyptian governments set great store by the project. China is now preparing to guide more companies to expand their business in the area in the coming years.

For CRI, I'm Xu Weiyi.