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The Ministries of Communications and Information Technology of Egypt and the Ministry of Information Industry of the People's Republic of China have signed a Memorandum of Understanding (MoU) aiming at the development of Communication and Information Technology (CIT) industries of both countries.Egyptian Minister of CIT, Ahmed Nazif and Chinese Minister of Information Industry, Wu Jichuan signed the MoU, which promotes the exchange of information on the establishment of strategies and policies, the formulation of regulations and the regulation of the market in the area of CIT. Both ministries encourage in the MoU the cooperation between enterprises to promote trade and investment in the construction and operation of telecommunications network infrastructure. Moreover, the memorandum supports the exchange information and data on subjects of common interest and establishes appropriate channels for information exchanges. In addition, it endorses the familiarization of the organizational structure, laws and regulations, methodology and procedures of each country."Chinese companies will benefit from new growing markets in the region and we are putting our talent at their disposal," said Nazif. "We have similar challenges for increasing the teledensity in rural areas, we will work together to meet this challenge," he asserted. - (menareport.com)