left corner left corner
China Daily Website  

Sino-Africa co-op to go on despite global economic slowdown

Updated: 2016-07-23 08:18
By Lucie Morangi in Kigali, Rwanda (chinadaily.com.cn)

China's move to expand its domestic market will strengthen Africa's export sector, said an official with the African Union Commission (AUC).

Erastus Mwencha, deputy chairman of the African Union Commission (AUC), said China's massive consumer market will increase demand for Africa's agricultural products, hence promoting the continents' industrialization ambitions.

Speaking on the sidelines of the just-concluded Africa Union summit in Kigali, Rwanda, Mwencha said that commitments made by the two partners during the Forum on China-Africa Cooperation (FOCAC) in December gave this bid the needed impetus. The economic slowdown in China will not derail these plans he said.

"In the next two weeks there will be a FOCAC ministerial meeting to follow-up on the agreements made in Johannesburg, South Africa. I am confident that we will continue our partnership in the pursuit of industrialization, infrastructure development and poverty eradication," he said.

Mwencha said the ongoing global economic slowdown and tumbling commodity prices will instead strengthen Sino-Africa cooperation. "This is the time for China to assist Africa to grow its innovation. I believe China is here to assist," he said.

During the FOCAC summit, President Xi Jinping announced a $60 billion investment into development projects in Africa, which included $10 billion to the China-Africa Fund for production capacity cooperation.

A 10-plan strategy also was proposed that included industrialization, agricultural modernization, infrastructure, financial services, green development, trade and investment facilitation, poverty reduction and public welfare, public health, people-to-people exchanges and security.

  • Group a building block for Africa

    An unusually heavy downpour hit Durban for two days before the BRICS summit's debut on African soil, but interest for a better platform for emerging markets were still sparked at the summit.