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 four trips to China.

He told Xinhua he was impressed with the huge changes that have taken place in China in five years since he visited China with Egyptian President Hosni Mubarak in 2002. Eshrah was back in Beijing for the Forum on China-Africa Cooperation last November and also visited China twice before 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.

Source: Xinhua