China to assist Africa agricultural, industrial modernization
Advertisement

Chinese Foreign Minister Wang Yi

Business
Typography

CHINA has said is ready to help African countries to speed up industrialization and agricultural modernization so as to boost growth and development.

The Chinese Foreign Minister Wang Yi told reporters yesterday on the sidelines of the ongoing China’s National People’s Congress (NPC) that Africa support will not weaken no matter how the international situation becomes or the world economy may evolve.

“We had extended support to African countries before when things were not as good as they are now, and that is unlikely to change now.” he said. The FM comments came days after, China’s Premier speech on the opening of the NPC, setting this years’ GDP growth on 6.5 per cent down from 6.7 per cent of last year.

This had worried some, who thought that the decrease may translate into the reduction of the support China extends to African countries. In the traditional press conference every March at the sideline of the ongoing NPC conference, Mr Wang talked about China’s foreign policy and increasing role of China in international politics as its economy grow stronger.

Mr. Wang’s confidence and optimism lays on evolving nature of Sino African relations, where we now see market playing bigger role than governments, industrialization taking over commodity trade, investment replacing infrastructure construction.

He said China was delivering on the promise given by president Xi Jinping to African leaders, of investing US$ 60 billion on industrial and infrastructure development in Africa. Mr Wang said nearly half of that money has already been disbursed, some of which went to the construction of Mombasa Nairobi standard gauge railway, and some is underway for the construction of a port in Tanzania. However, the Foreign Minister said “markets are playing a more important role for China- Africa cooperation.

” On other development, China said it will continue to be an anchor of international stability, promote global growth and advance world peace and development. He reiterated China’s support to Africa saying that, support will not weaken no matter how the international situation or the world economy may evolve.

“As we have seen in the recent past, the China’s economic growth has been going down from double digits to single digit, but the aid China extends to African has doubled,” Mr Wang said.

This is evident in China Africa Development Fund of which Chinese government boosted its capital from 5.0 billion US dollars to 10 billion US dollars

Advertisement
Advertisement
Advertisement
www.cardealpage.com
CardealPage Co. Ltd
www.habarileo.co.tz
Gwiji la Habari Tanzania
www.tsn.go.tz
Official Website for TSN
Sponsored Links
Advertise Here
Mwanza_Business_Forum
Advertisement