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    China Looking Forward To the November China Africa Conference

    Mardi, août 11th, 2009

    The 4th conference at the ministerial echelon of FOCAC or Forum on China Africa will be held in November 2009.  China is looking forward to this conference so as to strengthen its presence in Africa. According to the Ambassador of China to Egypt, Wu Chunhua, China will be able to further expand its already existing presence in Africa. The 4th conference will be held in Sharm el-Sheikh, which is an Egyptian Sea Resort.

    The conference is going to look at the last Beijing summit of Forum of China Africa in 2006 and evaluate what has been achieved till so far. The officials will draft a sketch for the coming 3 years. This was told by the Wu Chunhua. He added that Africa is a promising continent that has immense potential. A lot can be achieved by the trade relations. Any mutual ties between the two nations will bring positive results to both the countries.

    The economists worldwide and the political spectators are establishing the fact that the continuous efforts of China in developing the industry and the infrastructure are finally giving positive results.

    According to an African economist, China is making fantastic proposals and actually adding to the benefit of the entire continent and its people. It just doesn’t shed its money and look at the situation. China works a lot on the investments it makes. There are regular follow-ups and plans.

    FOCAC was made after a proposal of over 40 countries of Africa and China in the year 2000. There are three levels in FOCAC. These comprise of the ministers discussion at the first level, followed by talks between the senior officials in the next level and then talks are held between the African and Chinese delegation to the respective countries.

    China’s bilateral trade with Africa has been on a rise. In 1956 it was at a mere $12 million, but in 2007 it shot up to $736 billion. This made China the 3rd largest partner of trade with Africa. According to a forecast trade will become more than $10 billion by the year 2010. In 2007 a $9 billion financial package was signed between China and Congo. Later that year ICBC which China’s largest bank, bought 20% stake in Standard Bank. The value stood at $5.5 billion.

    Source : Manufacturers Africa

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    Egypt And China Prepare For FOCAC Inter-Ministerial Summit

    Samedi, mai 9th, 2009

    The Chinese foreign minister Yang Jiechi met the Egyptian coordinators of the Forum for China Africa Cooperation Affairs (FOCAC), Ambassadors Ibrahim Ali Hassan and Mahmoud Ahmed Abdel El Gawad, on May 6th 2009.The two sides discussed the growing, profound friendship between Egypt and China as they prepared for the fourth ministerial meeting of the FOCAC. The year 2009 is significant as it is the final year of the period of implementation of the eight measures announced by the Chinese President Hi Jintao at the Beijing Summit, for promoting economic cooperation with Africa. The meeting, scheduled for later this year, will assess the success of the implementation of the steps listed at the Beijing Summit in 2006. The meeting will be co-hosted by China and Egypt.

    FOCAC is a platform that has been established by a set of African countries with China for consultation and knowledge sharing, to develop a cooperation mechanism between developing nations. This forms part of the South-South cooperation endeavors. Besides political initiatives, it reiterates the need for mutually beneficial trade and economic cooperation that would lead to higher developmental levels in both Africa and China.

    Till now, three FOCAC inter-ministerial Summits have taken place, the first in Beijing in the year 2000, the second in Addis Ababa, Ethiopia in 2003, and the third again in Beijing in 2006. The fourth one is being held in Egypt later this year. Attended by representatives from 48 African countries and senior Chinese officials, each of the meetings have delineated steps taken by China and Africa to strengthen Sino-African friendship. The two sides have been receiving information and details about business opportunities and the needs and requirement s of each. China has pitched in with investments and technical expertise wherever these African nations have felt the need and Africa in turn, has assisted China with raw materials, minerals and opened its mining sector for China.

    However, this has not been a haphazard process but a detailed, meticulously planned cooperation initiative and in the 9 years since its inception FOCAC has kept track of the successes in each country.

    Source : China Africa

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    China-Africa Development Fund Seeks Larger, More Active Role

    Vendredi, avril 24th, 2009

    The China-Africa Development Fund was set up in June 2007 to enhance the level of Chinese investments in the African continent. The state backed fund started out with an initial investment of $ 1 billion put in by the China Development Bank Corp., and is likely to touch the $5 billion mark. It has funded various developmental projects and set up many industries. However, it has been a passive investor that was not at liberty to even hold a majority stake in a company. Mark Fung, the general counsel for the company stated in Hong Kong, that the fund would like amore active role in the future, though at present, it lacks the required expertise to participate in the management of the projects it funds. The fund’s investments are generally made for an eight to ten year period.

    Among the projects assisted by the fund, is the cotton planting and processing unit in Malawi, the Ghana power station, a glass factory in Ethiopia, as well as trade zones in Nigeria and Egypt. The total investments made in twenty such projects amounts to $400 million. Refuting claims of critics that environmental rules were ignored while assisting in raw material and oil exploration, Fung stated that an environment assessment has always been conducted in each of its projects before funds were released. The fund is part of China’s long-term strategy to fill in the gaps left by the western nations due to the economic downturn and the recession hitting their economies.

    China has strengthened its place and presence in Africa in the process, helping its infrastructure development and providing technical expertise and funds the Southern continent so desperately needs. The fund has opened a representative office in Johannesburg and will be opening similar offices all over Africa. China is commitment to the development of Africa and the fund is one of its various channels to ensure the flow of investment into the continent. China has a set of eight policy measures listed by its premiers to assist Africa in the sectors of tourism, industry, agriculture and infrastructure. African nations have been seeking Chinese expertise in capacity building and building its private sector.

    Source : Suppliers Africa

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    China Africa economic

    Mardi, avril 7th, 2009

    China has won accolades as the most popular partner of developing countries. This came its way from the Tanzanian President Jakaya Kikwete at the G20 summit. China has certainly been playing an active role in the global economic arena, trying to tone down the impact of the economic crisis by promising aid, increasing trade relations with developing countries particularly those in the African continent. It has written off bad debts and is using its surplus currency reserves to invest in developmental projects in Africa, thereby generating employment and entering sectors that the western nations walked out of, due to the crisis.

    China is not merely a quiet investor and trading nation for Africa.  Not only has it moved towards acquiring raw material assets in Africa, it has boosted infrastructure development with its investments. It is sharing technical expertise, helping in improving agricultural output, and ensuring a market for African goods that were losing out as western demand fell drastically. For many African countries, China is the biggest export market. China is adopting every possible strategy to get Africa on to the fast track of development, and is showing its responsibility as an Asian powerhouse and a global economic leader. The first of its kind, an 88-day expedition is starting at Ghana, organized by the Yunnan Committee of the Chinese People’s Political Consultative Conference. The expedition will cross seven countries including Ghana, Burkina Faso, Mali, Niger, Algeria, Libya and Egypt, culminating at the Red Sea and involving a trek of over 7800 kilometers. This is the first time a Chinese team has ventured to cross Africa from the West to the East. Besides studying environmental issues like desertification and preservation of habitats for wild life, the members of the team will serve as goodwill ambassadors for China, and also enhance awareness among their Chinese countrymen about Africa’s developmental and investment potential and tourist charm. There is a growing Chinese middle class with funds to spare for recreational activities, and China is prodding them towards exploring the beauties and bounties of nature that Africa has to offer.

    Source : China Africa

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    China’s Reaching Out to Africa-Reasons for Trade

    Samedi, mars 7th, 2009

    Every move made by China towards any African country, catches the world’s eye. Chinese leaders making trips to Africa evince great interest and the rationale behind the trips is analyzed and dissected. China is certainly sending strong feelers to African nations, and is getting a positive response from them, simply because China has lots to give. China is perceived by the Africans as the land of enormous opportunity, a country that will provide aid without strings, bring in expertise, develop infrastructure, and invest extensively to pull the countries out of poverty and underdevelopment. The past of the two sides have been similar, except that China surged ahead, and today presents a model for growth to Africa. In return, China has managed to get materials and markets that were not available in any other part of the world. At present, Angola is the second largest provider of crude oil to China, followed closely by Nigeria. It has also procured African copper, zinc, cobalt and uranium. China is making its presence felt in all parts of the African continent, with its oil survey teams in Libya, Egypt and Morocco, it sells arms in return for natural resources in Algeria, Ghana, Benin, Congo and Angola. Extensive trade with Kenya, Sudan, Tanzania and Zambia keeps Chinese ships sailing in and out of every part of the African continent. Mutual economic benefit is the deciding factor for every economic partnership entered into by the two sides. Though one side has more to give in terms of natural resources, the other has a phenomenal amount of talent, expertise and technical know-how that will help tap these natural resources for maximum returns..

    However, China has also been affected by the worldwide economic downturn, and part of the plan to stem unemployment and stimulate demand, is to send unemployed migrant workers to farm in Africa. Africa has plenty of fertile land, and needs to replicate the Chinese model of agriculture to increase output and produce world quality natural products to benefit economically. This plan of China would merely be an extension of the previous Sino-African agreement whereby some 400 Chinese farmers were given access to cultivate nearly 10,000 hectares of land.

    Source : China Africa

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    Egypt and China Partnership for African Growth

    Lundi, mars 2nd, 2009

    China has been consistently increasing its investments and trade with various African countries. But many countries still find that the balance of trade remains in China’s favor. Egypt is one such country. The Egyptian Minister for Trade and Industry, Rasheed Mohammed Rasheed met senior Chinese officials to find ways to further enhance bilateral economic ties between the two countries. The focus was primarily on ways to increase export of Egyptian goods to Chinese markets, so that the trade scale balances out. Also under discussion were ways to increase Chinese investments in the country, in a way that is mutually beneficial to both nations to cope better with the world’s economic downturn.

    Next on the agenda is the Chinese African cooperation forum slated for the second half of the year to be hosted by Egypt. The main purpose of the forum is to discuss further avenues of cooperation between China and African countries in the economic, trade and commercial sectors. The Forum will meet in China in 2010 to take the level of cooperation further.

    The minister met his Chinese counterpart, the Minister of Industry and Information Technology to discuss the possibility of joint ventures between Egypt and China to produce heat and electric insulators, natural gas-propelled cars, foodstuffs and power transformers. The Chinese experience in small and medium scale industrial units provided the ideal models for growth in the African continent. Egypt’s Gulf of Suez was one specific region seeking Chinese investment in the fields of information technology and renewable energy. Chinese expertise is also being sought in setting up units for recycling agricultural waste. The minister invited companies from China to set up headquarters for their African operations in Egypt, and use that as a base for taking care of their trade and commercial activities in Africa and the Arab countries close by.

    At present, the trade volume between China and Egypt is valued at more than $5.3 billion, and approximately 600 Chinese companies have found ways to invest in this African nation that first established strategic relations with China a decade ago. Sino-Egyptian ties today are stronger than ever before.

    Source : China africa

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