| China to promote economic links with African nations |
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| Wednesday,January 25,2006 Posted: 05:15 BJT(2115 GMT) Xinhuanet |
The Chinese government is to take more concrete measures to advance trade and economic cooperation with African countries, an official from the Chinese Ministry of Commerce said here Friday.
Li Xiaobing, from the Ministry of Commerce, told Xinhua that China will continue to increase aid to African countries within its capacity and step up cooperation on personnel training.
The move is part of China's action to implement the proposals that Chinese President Hu Jintao put forward last year on enhancing relations with all developing countries in the world.
The proposed measures include offering 10 billion U.S. dollar soft loans and training 30,000 professional personnel for developing countries, scrapping export tariffs and writing off debts for the world's 39 Least Developed Countries (LDCs) and some of the Heavily Indebted Poor Countries (HIPCs), and increasing aid to African countries in particular.
Li said the measures proposed by President Hu demonstrate China's wish to consolidate traditional friendship with African countries and other developing countries for common development.
Over the years, China has provided African countries with aid without any political conditions attached. As its economic strength grows, China has been gradually scaling up assistance to African countries.
China has earnestly carried out these measures in the past few years. It has set up an inter-ministerial coordination mechanism for overseas cooperation on human resource development. In 2004, China doubled the budget for training personnel for African countries, offering training positions for 2,446 African personnel and 332 African students in the country. In 2005, a total of more than 3,800 African personnel were trained in China. The figure is expected to grow further this year.
This year, the China-Africa Forum will hold a summit of Chinese and African leaders and the third ministerial meeting in Beijing. Leaders from the 47 African countries having diplomatic links with China will be invited to attend.
Li said this historic meeting will add a fresh and strong impetus for China-Africa trade and economic cooperation by pushing it to a greater depth.
Li said China will continue to implement a zero-tariff treatment to certain products from some of the least developed African countries this year. Since Jan. 1, 2005, China has scrapped import tariffs on 190 kinds of commodities from 28 least developed African countries that have diplomatic relations with China. The commodities make up the majority of these countries exports to China. As a result, the exports of such goods to China from the 28 African countries more than doubled last year.
This year, China will further expand trade with African countries and improve trade structures, Li said. He said China will conduct more market promotion activities in certain countries and regional markets that play a pivotal role in China-Africa trade. The Chinese government will encourage and facilitate Chinese companies to hold exhibitions and promotional shows in these places. On the other hand, he said China will further increase the export of high value added products to Africa.
In 2005, the trade volume between China and African countries was expected to top 37 billion U.S. dollars. Such high value added goods as machinery, electronic equipment and high- and new-tech products made up nearly half of China's exports to the African continent.
Li said China will continue to encourage prestigious, strong and relatively competitive Chinese companies to participate in economic and technological cooperation with African countries in various fields.
He said the Chinese government will offer greater support to Chinese companies investing in Africa in terms of fiscal expenditure, taxation and financing. It will make it easier for Chinese companies to invest in Africa by creating a proper policy and legal environment for their lawful overseas operations.
China will negotiate and sign investment protection agreements with a greater number of African countries this year, Li said.
So far, China has signed investment protection agreements with 28 African countries and eliminating a double taxation accord with eight African countries.
Li expressed confidence that China-Africa cooperation will continue to grow in 2006.
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