Tag: china

Angola-China Trade Surpasses U.S.$26 Billion

Posted by khaoula on

The business volume between Angola and China surpassed last year the USD 26 billion figure, however, the Asian countries authorities predict an increase soon of such value, given the intensity of the bilateral relations.

The information was given last Friday, in Luanda, by the Chinese ambassador to Angola, Cui Aimim, at the end of a meeting with the Speaker of the Angolan National Assembly, Fernando da Piedade Dias dos Santos.

According to the Chinese diplomat, the bilateral co-operation is growing every day, including in the parliamentary domain in which the two states have frequent contacts.

Angola is the main partner of China in the African continent, with the bilateral trade growing rapidly in the past few years. However, the commercial relationship is still too much focussed on crude-oil.

According to Cui Aimim, whose diplomatic mission to this African country is nearing its end, the trend in the coming times will be to diversify the commercial exchanges, with emphasis on agriculture.

“We’ll expand the trade to other goods, such as cassava flour, tropical fruit juices, mineral products besides oil”, emphasised the Chinese diplomat.

Chinese firms to construct Economic Zone in central Zambia

Posted by khaoula on

A consortium of Chinese firms will construct a Multi-Facility Economic Zone in central Zambia’s Chibombo district, with President Edgar Lungu saying the project will go a long way in helping the country in its endeavor to ensure value addition to local products.

The groundbreaking ceremony of the Jiangxi Multi-Facility Economic Zone was held in Chibombo district on Wednesday. It will cover 600 hectares of land, with an initial investment of 300 million U.S. dollars in the first phase which will create more than 5,000 jobs.

Speaking during the groundbreaking ceremony, the Zambian leader said the project by a consortium of Chines companies — the Jiangxi United Industrial Development Limited, marked another symbol of the strong relationship between the two countries which dates to pre-independence period.

The Zambian leader said the project was one of the fruits from his recent visit to China where he attended the Forum on China-Africa Cooperation (FOCAC) summit held in Beijing in September.

Zambia, he said, has already started benefiting from the 60 billion U.S. dollars in funding support pledged by Chinese President Xi Jinping at the summit to serve China-Africa cooperative projects, as evidenced by the industrial park project.

According to him, the Economic Zone was also a culmination of a business forum the Zambia delegation attended in east China’s Jiangxi Province on the sidelines of the FOCAC summit.

“It is indeed a great mark of achievement to see that it’s not long ago that we visited China, but we are already witnessing the fruits of our visit. This is an indication of the importance that People’s Republic of China attaches to the bilateral cooperation with Zambia,” he said.

The Zambian leader further reaffirmed his government’s commitment to create a conducive business environment for their operations and commended the provincial administration in Jiangxi Province to ensure the actualization of the Economic Zone.

He further said his government will continue to encourage the development of multi-facility economic zones, industrial parks and farm blocks in order to foster industrialization and value addition.

Li Jie, Chinese Ambassador to Zambia, said the economic and trade cooperation zone plays an important role in pushing forward the Belt and Road Initiative and industrial capacity cooperation between China and Zambia.

“We believe that the project will fully take the location advantages of Central Province to promote the agriculture, manufacturing and food processing industries, which will contribute to local economic development and regional industrial upgrading,” he said.

Xu Guojian, a representative of all shareholders, said the project was the fulfillment of one of the eight major initiatives proposed by the Chinese president at the 2018 FOCAC Beijing summit where Chinese firms were encouraged to expand their investment in Africa by establishing and upgrading a number of economic and trade cooperation zones.

Source: Xinhua

African leaders in Beijing for 2018 FOCAC Summit

Posted by khaoula on

Presidents and heads of government across Africa are in the Chinese city of Beijing for a high-level summit hosted by the Chinese government.

The Forum for Africa-China Cooperation, FOCAC, is a meeting between the two partners and is largely premised on ways to increase diplomatic, economic and bilateral ties.

The Summit has officially started today on September 3 lasting till tomorrow, September 4. This year’s edition is themed “China and Africa: Toward an Even Stronger Community with a Shared Future through Win-Win Cooperation.”

The summit is seen largely as a key diplomatic event hosted by China this year and attended by the largest number of foreign leaders to date. African leaders already in Beijing have held different levels of talks with their Chinese counterparts signing deals and also meeting investors.

This year is the third time the summit has convened, following the inaugural 2006 summit in Beijing and the 2015 summit in Johannesburg, said Chinese State Councilor and Foreign Minister Wang Yi.

African leaders and the chairman of the African Union (AU) will be in attendance, and the United Nations (UN) Secretary-General will be the esteemed guest, joined by 27 international and African groups as observers.

The interest in the forum is a result of China’s growing influence on the African continent and proves the FOCAC has been pragmatic and efficient, analysts said.

“Established 18 years ago, FOCAC has led international cooperation with Africa and has become a significant marker of South-South cooperation,” said Li Dan, director of Africa Studies Center of China Foreign Affairs University.

“AFRICAN SCHOLARS: MADE IN CHINA” – Brandy’s Research Experience at AFCHAM

Posted by khaoula on

This summer, I had a great opportunity to intern at the African Chamber of Commerce in China.

Even though I have been to Shanghai before, being able to work in the environment was very interesting. One thing that caught me by surprise was the dress code. While I came to China with my most professional clothes for work, most people were actually very casual and laidback.

My overdressing helped, though, when it came to conducting interviews for people to take me seriously so I saw it as a reward. There were very vibrant people in the office and I was even able to participate in out-of-office events that made living in Shanghai much more fun. Living in Shanghai alongside doing the internship was also a rewarding experience. It was very hot every day, but after the boiling sun went down, it was fun to go and see the lights of the city and meet new people in social settings.

My research that I conducted with AfCham also opened doors for me to meet new people and understand new ideas that led me to cities like Jinhua where I was able to attend the Cameroonian Students Association election dinner. Thank you to everyone that has made this experience worthwhile. If you participated in my research or you are interested in seeing the results, you can find attached to this article.

Written by Brandy Darling

Click on the following link for Brandy Darling research ” AFRICAN SCHOLARS: MADE IN CHINA”

AFCHAM Brandy’s Research

China’s Xi promises $14.7bn in investments in South Africa

Posted by khaoula on

In addition to $14.7-billion in investments promised by China, the cash-strapped state-owned enterprises which had dodgy links to the Guptas, Eskom and Transnet, will receive major new Chinese loans worth a combined R37.7-billion.

Chinese President Xi Jinping has committed China to investing $14.7-billion in South Africa, President Cyril Ramaphosa said after meeting Xi in Pretoria on his state visit to South Africa on Tuesday. This would be a significant boost to Ramaphosa’s international drive to raise $100-billion in investment over the next five years.

Xi himself announced at the same joint press conference with Ramaphosa that China would take “active measures” to boost imports from South Africa to support the country’s development agenda and priorities.

State-owned China Development Bank has also agreed to lend $2.5-billion (R33.7-billion) to cash-strapped power utility Eskom to complete the Kusile coal-powered power station project in Mpumalanga.

And a $300-million (R4-billion) loan from Industrial and Commercial Bank of China (ICBC) will go to another ailing state-owned enterprise, Transnet.

The two loans deals were among 14 different agreements signed between South African and Chinese government departments, SoEs and private companies after the Ramaphosa-Xi official meeting.

Trade and Industry Minister Rob Davies explained to journalists that the measures which Xi had agreed to take to boost South African imports included sending more buying missions to South Africa, with a focus on purchasing value-added goods from this country. Pretoria sees such measures as steps towards establishing more balanced trade with China, rather than just exporting raw materials to that country, and importing Chinese manufactured goods.

As an example of the type of Chinese investment South Africa is looking for, Davies said that Ramaphosa and Xi would later on Tuesday participate by video in the launch of the R10-billion car factory built by the Chinese vehicle company BAIC in the Coega special economic zone near Port Elizabeth.

He said this investment had been announced at the time of Xi’s last state visit in 2015 and the first vehicles would be rolled out on Tuesday.

“What’s special about the Chinese is when they make a commitment to invest, they’re reliable and they happen,” he said.

Davies added that the Chinese TV and domestic appliance manufacturer Hisense would also be expanding its local production.

But he also disclosed that South Africa invests a lot more in China and other BRICS countries than they invest in South Africa and that this imbalance needed to be corrected.

He said China’s accumulated total investment in South Africa to date was about $11-billion and that South Africa had invested a greater amount than that in China.

South Africa’s investment imbalance with the other four BRICS countries as a whole was even greater. Total outward investment was about $60-billion against only $18-billion of inward investment. That’s why he would be arguing at the BRICS Business Forum in Sandton on Wednesday that BRICS needed to support more investment-led trade. If South Africa could expand its production capacity, it and other BRICS countries could also increase their manufacture of intermediate goods which would boost trade in supply chains.

Davies said about two thirds of world trade was now in such intermediate goods and that the focus needed to be on investment-led trade, not the other way round, (as many economists advocate).

The BRICS Forum, which all the leaders of the BRICS countries – Brazil, Russia, India, China and South Africa – are to attend, will be the first leg of the BRICS summit. On Thursday the five BRICS leaders, Ramaphosa, Xi, Brazilian President Michel Temer, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will have a meeting among themselves, followed by a retreat.

On Friday the five leaders will have two separate “outreach” meetings, one with several African leaders and another with non-African leaders, mostly representing regional organisations.

Davies said that apart from new investments, the other important announcement by Xi on Tuesday was to take active measures to increase imports from South Africa. In addition to sending more buying missions to this country, he said China had already relaxed health restrictions on South African beef imports and had undertaken to do the same for dairy imports.

 

 

Xi said the two countries would prioritise co-operation in infrastructure, trade and investment, science and technological innovation and financial co-operation.

Xi pledged China’s support for the big investment and jobs summit which Ramaphosa plans to hold later in 2018 in an effort to attract $100-billion of investment in five years and said China would take “active measures to expand imports from South Africa to support the government in achieving its development agenda and priorities”.

Xi said China and South Africa held similar views on international issues and so should work more together to strengthen multilateralism – the inclusion of all nations in reaching international decisions.

This would include bolstering the multilateral (international) trade system and increasing democracy in international relations.

(Contribution to Peter Fabricius)

 

Djibouti’s $3.5 billion Chinese-built free trade zone

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Djibouti commissioned a $3.5 billion, Chinese-built free trade zone on Thursday, deepening ties with the Asian giant and helping the Horn of Africa nation generate more jobs for its youths.

Djibouti, with a population of 876,000, already hosts Chinese, U.S., and French naval bases and it also handles roughly 95 percent of the goods imported by Ethiopia, its land-locked neighbor with 99 million people.

The new trade zone, one of several new port and trade facilities being developed by Djibouti, covers 48 square km and was built by China’s Dalian Port Corporation.

The zone will be jointly operated by Djibouti Ports and Free Zones Authority and China’s Merchants Holdings company.

Zone to facilitate job creation

The zone which will house manufacturing and warehouse facilities, an export-processing area and a services centre, is expected to handle trade worth $7 billion within two years, and create 15,000 jobs when complete.

“It is … a zone of hope for thousands of young jobseekers,” Djibouti President Ismaïl Omar Guelleh said at the inauguration ceremony, which was also attended by the presidents of Rwanda, Somalia, Ethiopia and Sudan.

China’s ‘One Belt, One Road’ project

The agreement to build the free trade zone was signed in March 2016 as part of China’s “One Belt, One Road” initiative, which is a bid to expand trade routes with a series of infrastructure initiatives stretching across 60 countries.

“Our strategic location and world-class facilities have … seen Djibouti’s importance as a trade hub recognised globally,” Aboubakar Omar Hadi, chairman of the Djibouti Ports and Free Trade zone, told Reuters at the ceremony.

Djibouti already handles most imports for neighbouring Ethiopia, and aspires to become a gateway to South Sudan, Somalia and the Great Lakes region

 source: reuters

Tap from the pool of young African professionals

Posted by jilles on

When the development of Africa is discussed, most stakeholders often focus more on finances and may be logistics. Human resources are usually overlooked. The few who do think about human resources show little attention to the vast and ever-growing pool of young African professionals based both in and out of the continent. Companies carrying out projects in various industries across the continent have until now depended largely on non-African professionals. The most common flimsy excuse for not using African professionals even in projects for Africa is that, it is hard to find qualified and experienced Africans to do the job. Paradoxically, African countries like Congo (Brazzaville) experienced an unemployment rate of up to 66.9% in recent years and over 20 other African countries have experienced an unemployment rate of between 20 to 40% from 2012 to 2016 according to TradingEconomics.com .
Many platforms uniting African professionals exist. Their common goals are to profile, categorize and orientate these experts towards areas where maximum use of their expertise is in need. One such platform is The African Chamber of Commerce (AFCHAM). Inspired by demands for African professionals by foreign companies investing in Africa, the organization now has a project called the AFCHAM-HR Directory. It is a rich pool of African professionals in any industry you can think of and most of them are all available to start work ASAP as long as the working conditions are right.
Hiring from the AFCHAM-HR Directory is advantageous in the fact that most of the ground work like general background check and preliminary basic skills evaluation are guaranteed and endorsed by AFCHAM, making it easy for the recruiter to focus more on skills related to the particular position in mind. All professionals listed in the program have been checked by AFCHAM officials although this is not an ultimate guarantee that the recruit will satisfy the needs of the employer. Companies or individuals interested in using the AFCHAM-HR Directory service simply have to submit their requests to AFCHAM at hr@afcham-china.org and the department will get in touch for further discussions regarding their needs. It is worth noting that companies in need of African professionals are not necessarily companies based in Africa. Many companies based in other countries need African professionals for other reasons related to their businesses.
African university graduates and working professionals aiming at greater heights in their careers are invited to join this program and get listed as soon as possible before the pool gets flooded. Submit your CVs and portfolios to AFCHAM at cv@afcham-china.org and the department will be in touch to evaluate your skills, career interests before getting you listed. African professionals who are already registered members of AFCHAM enjoy more privileges in this program such as advice on CV writing and interview coaching.
The future of the African continent is in the hands of young African professionals who currently form about 65% of Africa’s population. The African Union in its program dubbed Aspirations for 2063 puts it in the following words: “The aspirations reflect our desire for shared prosperity and well-being, for unity and integration, for a continent of free citizens and expanded horizons, where the full potential of women and youth, boys and girls are realized, and with freedom from fear, disease and want”. The time is now.

D. Nkwetato