Egypt's Sisi and Huawei chairwoman discuss expansion plans in Egypt - spokesman

Wednesday 24-12-2014 12:27 PM
Egypt's Sisi and Huawei chairwoman discuss expansion plans in Egypt - spokesman
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CAIRO, Dec 24 (Aswat Masriya) - Egypt's President Abdel Fattah al-Sisi and chairwoman of Chinese telecommunications multinational Huawei explored on Wednesday means to expand the company's investment in Egypt.

Sisi and Sun Yafang reviewed the company's expansion plans in Egypt, Presidential Spokesman Alaa Youssef said, adding that the latter emphasised Huawei's intentions to foster its investments in Egypt, and highlighted its refrain from exiting the Egyptian market in the past years which have witnessed instability.

Huawei ranks as the world's third-biggest supplier of smartphones after Samsung Electronics Co Ltd and Apple Inc. It has been operating in Egypt since 1999. Its headquarters in Egypt were converted into a regional office covering 23 other countries.

Sisi also met with the head of the Chinese National Tourism Administration, where he expressed his hopes to organise charter flights between Chinese cities and Egypt, as well as connecting flights between Hong Kong and Egypt.

Sisi is scheduled to meet the Chinese prime minister, chairman of the National People's Congress, and chairman of the foreign relations committee of the Chinese Communist Party on his third day in Bejing.

He is expected to sign 15 agreements with Chinese private companies, bringing the total number of signed agreements during his visit to 20.

On Tuesday, Sisi concluded a summit with his Chinese counterpart Xi Jinping by signing a Comprehensive Strategic Partnership Agreement.

He landed in the Chinese Capital of Beijing Monday morning in an official visit to strengthen bilateral ties and increase Chinese investments in Egypt.

Egypt postponed for a month an economic conference it is scheduled to hold next year to ensure the presence of Chinese investors.

Egypt's Planning Minister Ashraf al-Arabi announced in September that the country will hold a conference in February to attract foreign companies, donor and international organisations.

Finance Minister Hany Kadry Dimian nevertheless said earlier in November that the conference will be postponed to March to avoid its overlap with Chinese holidays.

Egypt's diplomatic relations with China date back to 1956. Egypt was the first Arab and African country to recognise the People's Republic of China.

The two countries signed a Strategic Partnership Agreement in 1999, reflecting their keenness on developing cooperation.

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