China offers Africa more trade, investment
BEIJING (AP) - China is offering to abolish import duties on
some commodities from Africa and make sure Chinese exports to the
continent are safe as part of a package to boost already thriving
economic ties, China's commerce minister said in an article
published Saturday.
The proposals outlined by Chinese Commerce Minister Chen Deming
come ahead of a summit Sunday and Monday between Chinese and
African leaders in the Red Sea resort of Sharm el-Sheikh. The
meeting follows a landmark 2006 summit in Beijing that catapulted
China's hunt for oil, minerals and other raw materials in Africa
and brought Africa Chinese investment in infrastructure and other
projects.
Chinese investments in Africa totaled $7.8 billion as of last
year while trade has rocketed 30 percent annually this decade,
exceeding $100 billion last year, Chen said in an essay published
in the state-run China Daily newspaper.
Among the new measures Chen proposed are exempting unspecified
types of commodities from customs duties, setting up logistics
centers in Africa and creating an inspection system to weed out
trade in substandard consumer goods. China would also continue to
build schools and hospitals, support malaria-prevention programs
and improve farming methods in Africa, Chen said.
The proposals seem intended in part to blunt criticisms that
rapidly growing economic ties were chiefly benefiting the Chinese
side, with China reaping natural resources and cornering consumer
markets while creating too few jobs for Africans. International aid
watchdogs and good governance groups have likewise criticized
Beijing for its loan policies in which few conditions are attached,
thereby encouraging corruption.
``China has closely followed the development of Africa and
sincerely wishes to make its contributions to the African people in
developing their nations and creating a better life,'' Chen said.
11/07/09 07:45
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