New era for relations with China
19/01/2009
China has an eight-measure policy in place designed to strengthen economic and trade cooperation with Africa and the Asian company’s commerce minister, Chen Deming, said on January 19 that the plan has yielded “remarkable achievements” in the past two years.
The policy, announced by President Hu Jintao in 2006, covers aid, preferential loans and credits, the building of a conference centre for the African Union, the cancellation of debts, further opening-up of China’s markets to Africa, the establishment of trade and economic cooperation zones in Africa, and the training of African professionals.
Since 2007, China has signed bilateral aid accords with 48 African countries and loan agreements with 22 countries, Mr Chen said, and he added that there will be a 200% increase in aid, in value terms, in 2009 compared to 2006.
To expand imports from 31 of the most underdeveloped African countries, China has exempted leather and hides, as well as seven other categories of products from import tariffs.
The first of the trade and economic cooperation zones to come into operation is one with Zambia. Ten Chinese companies with a combined investment of more than $700 million have set up plants in the zone, located in the Zambian capital, Lusaka, offering 3,500 jobs for local people, he noted.
Zambian President Rupiah Banda spoke highly of the establishment of the project, saying it symbolised a new era.
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