China Meets Africa Forum held in Ghana

Source:Xinhua Published: 2012-8-31 10:38:30

A two-day forum dubbed "When China Meets Africa" opened on Thursday to explore how Africa can benefit from China's trade and investment policies that helped develop the Chinese economy.

It was held under the theme "Exploring Trade and Investment Opportunities: How Africa Can Benefit from China's Experience."

The opening session of the forum, the first in an annual series planned by the Chengwei Capital and the China Europe International Business School, saw dignitaries, including former Ghanaian President John Agyekum Kufuor delivering keynote addresses.

Kufuor lauded China for its rapidly developing economy in the midst of the meteoric transformation of the world over the last three decades.

The former Ghanaian leader satisfied the growing bilateral trade between Africa and China, as well as the support African countries had been receiving from their Asian partner.

Kufuor believed that, for Africa to translate its growth potentials into reality, there was the need to train its human resources to be able to lead the continent in taking advantage of opportunities presented by globalization.

He also urged China not to assume the posture of a bully toward its African partners in future but ensure the realization of a win- win relationship.

"It is my prayer that China shall not in the future lapse into the tendency of the "mighty" and strong to take advantage of the weak partner (Africa)," Kuffuor urged.

Chinese ambassador to Ghana Mr. Gong Jianzhong was glad that for the past three years, China had been Africa's biggest trading partner with bilateral trade rising to 166.3 billion US dollars or 16 times the 2000 level.

He praised Africa's resilience in the face of the global economic crisis, with the continent's economy growing at five percent, far above the world average.

"By June 2012, China had invested 45 billion dollars in Africa, including over 15 billion dollars of FDI," Gong declared, adding that over 2,000 Chinese companies were operating in 50 African countries, with more than 85 percent of their employees being Africans.

He explained that the actual type and amount of credit provided depended on the projects proposed by the African side and the result of assessment, and advised African applicants to pre-screen and prioritize the projects for which loans were being sought.

Vice-President of the China Africa Development (CAD) Fund Hu ZhiRong said China's development stemmed from 30 years of industrialization and urbanization.

He however believed that this was Africa's time to shine.

"What we do today and the choices we make will go down in history when China meets Africa," Hu stressed.

The other dignitaries included the Chief Economist and Director General of Education and Training Department of the China Development Bank (CDB) Ms. Wang Yuan, as well as some business and political leaders, eminent academics from both Ghana and China.



Posted in: Diplomacy

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