Mubarak era tycoons join Egypt President in China

Several of the businessmen who travelled with Morsi to China were prominent supporters of Mubarak and former members of the NDP

Ahram Online | August 28, 2012

A delegation of Egyptian businessmen who travelled to China on Monday, one day before the visit of Egyptian President Mohamed Morsi, was made up of many figures who were close to the former regime of Hosni Mubarak, and who were members of Mubarak’s now-dissolved National Democratic Party (NDP).

In his first state visit outside of the Arab world, Egypt’s president headed a delegation of seven ministers and 80 businessmen to China.

One the most prominent NDP figures who was invited to accompany the new president was Mohamed Farid Khamis, chairman of the Oriental Weavers Company, one of the world’s largest carpet companies. Khamis was member of the political bureau of the NDP and a member of parliament.

Another prominent name is Sherif El-Gabaly, chairman of Polyserve Fertilisers and Chemical Group, and a member of the administration of the Egyptian Federation of Industries, who was also a member of the political bureau and was known to be close to Gamal Mubarak, son of the former president.

Other members of the NDP present in the delegation included Khaled Abul-Makarem chairman of Fibertex, Walid Hela vice president of heavyweight plastic producers Al-Helal wel Negma and Farid El-Tobgui chairman of Bavarian group.

Hassan Malek, a member of the Muslim Brotherhood and a well-known businessman, heads the delegation and is responsible for the choice of members. Malek, president of a committee for communication between businessmen and the presidency, told Ikhwan Online, the official website of the Muslim Brotherhood, that the group was comprised of businessmen who had existing business ties with China.

The delegation also included some businessmen who have close ties with the Brotherhood, such as Ahmed El-Sewedy, chairman of El-Sewedy Electrics and Abdel-Rahman Samir El-Naggar, chairman of Daltex Food Industries.

Egyptian president heads to China for investment talks (alethonews.wordpress.com)

August 28, 2012 - Posted by aletho | Aletho News | China, Egypt, Hassan Malek, Hosni Mubarak, National Democratic Party

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