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|BRICS seals development bank deal|
BRICS nations on March 26 agreed to set up a development bank, as part of the emerging economies' efforts to reshape the existing international political and economic system.
Xi maps out Africa blueprint
Chinese President Xi Jinping on March 25 vowed to strengthen Sino-African ties and continue providing no-strings-attached aid to the African continent, during a state visit to Tanzania, the second leg of the leader's first overseas trip.
The establishing of the joint development bank and the foreign-exchange reserves pool will not only make the financing of BRICS countries' infrastructure more convenient, but also be conducive to infrastructure construction in vast developing countries, including African ones.
BRICS seals development bank deal
Fan Yongming, director of the Center for BRICS Studies at Fudan University, told the Global Times that the establishment of the development bank marks a step forward in the institutionalization of the group's mechanisms. BRICS is also mulling the creation of its own business council and think tank.
Sino-African ties have sunny future
The strategic importance that Chinese decision-makers attach to Africa should extend to all of society.
China needs Africa's energy and resources, and there is nothing to hide in this regard. But we can offer more besides economic aid. China can make greater contributions in helping African countries develop through their own initiatives.
The grand framework of Sino-African relations has already been created, and there is a long way ahead in terms of refining it. However, we have reasons to be optimistic.
Xi sets high hopes for Africa
Denise Kodhe, executive director at the Nairobi-based think tank, the Institute for Democracy & Leadership in Africa-IDEA
The visit is a clear indication that Chinese leaders not only value Sino-African cooperation but are also committed to the spirit and more solid success.
"China, like any other international development and business partner, has an interest in Africa. It is not proper to simply say that China is taking advantage of Africa," said Kodhe.
Li Qiang, general manager of Kenya office with China Road and Bridge Corporation
The situation is improving for both Chinese companies and African partners under the framework of the China-Africa cooperation summit.
Li said Chinese strategy toward Africa has changed from signing deals with a singular countries to boosting regional cooperation by building infrastructure to enhance regional communication in the continent.
Left out to Center: Why BRICS is important to Brazil
Being part of the BRICS grouping has helped Brazil leverage its "emerging market" identity and dehyphenate from its Latin American identity which had its own convoluted dynamics in any case. This is evident both in the global economic and political spheres.
BRICS has provided Brazil with a platform to engage with the international system more progressively. It can now navigate the international rules based architecture, with greater bargaining power and seek greater representation in institutions of global economic and political governance.
It is the undisputable fact that BRICS has an eye on Africa, in addition to the singular objective of setting new economic world order. It is also clear that BRICS has chosen its only African member South Africa to represent the interests of Africa.
BRICS to help deliver global economic recovery, fairer world order
Back in 2011, five BRICS members issued a joint statement, calling for closer cooperation to help ensure global food security, which has to start with feeding almost half of the world's total population living in these BRICS countries.
Apart from that, the BRICS nations should also step up their assistance to other developing and poor nations, particularly in the area of agriculture technology so that these nations could better deal with the negative impact of the climate change.
Meanwhile, the five emerging economies should also work to establish a fair global food trading system so as to ensure that food supply is secure worldwide.
Interview: BRICS facilitates global multilateral cooperation: Russian envoy
Vadim Lukov, the foreign ministry's special envoy to BRICS
China's approach to BRICS is characterized by a deep understanding of the significance of creating a new multi-polar international system. Russia-China cooperation within BRICS is one of the important engines of its development.
BRICS bank to balance against West
The institution will also further reforms in the international monetary system. For example, the currency used by the bank for its operations will have a major impact on the global financial markets. If the yuan is chosen, this will greatly help with the internationalization of the yuan. Or the bank could be more flexible by using several currencies to promote mutual benefit.
"Xi's decision to visit Tanzania first suggests that China is not merely interested in short-term economic gains, but that it is interested in developing long-lasting partnerships with African countries," said Frans-Paul van der Putten, senior research fellow at the Netherlands Institute of International Relations.
In Tanzania, March 24-25
|Chinese, Tanzanian leaders discuss all-round cooperation|
Chinese President Xi Jinping met his Tanzanian counterpart Jakaya Mrisho Kikwete here on March 24 for talks on further cooperation between China and the East African country.
The two leaders will witness after their talks the signing of cooperation deals by representatives of the two countries.
Tanzanian President Jakaya Mrisho Kikwete:
During an interview on March 24 ahead of Xi's arrival, Kikwete expressed his anticipation regarding the visit, which he said would consolidate the relationship between the two countries.
Kikwete said cooperation between the two sides has focused on economic areas, which he hoped could expand to the spheres of technology and anti-terrorism in response to the threat of Somali pirates.
"I hope the great 'Chinese dream' comes true," the president said in Chinese.
Chinese President Xi Jinping:
"China-Africa cooperation is comprehensive," Xi said prior to his trip, adding that Beijing valued "friendly relationships with all African countries."
China and Tanzania enjoy a traditional brotherly friendship, which is deeply rooted in the hearts of both peoples, Xi said in a written statement upon arrival, hailing the two countries as all-weather friends.
The Chinese president said his visit is aimed at consolidating the traditional friendship, charting the course for future cooperation and promoting common development.
He said he is confident that the trip will inject new momentum and vigor into the development of the friendly and cooperative relations between the two countries.
China and Tanzania agreed on March 24 to build a comprehensive cooperative partnership characterized by mutal benefit and win-win results. The agreement was reached at a meeting between visiting Chinese President Xi Jinping and his Tanzanian counterpart Jakaya Mrisho Kikwete.
Visiting Chinese President Xi Jinping delivered an important speech here on Monday, expounding on China-Africa relations and China's Africa policy.
Xi will attend a wreath-laying ceremony in the cemetery for Chinese experts based in the country.
China and Tanzania will cooperate to work on a port which is expected to connect the African country with Chinese, Middle Eastern and European markets, according to a 21st Century Business Herald report, which revealed that the budget is around $10 billion.
China, Tanzania issue joint communique on boosting friendly cooperation
Chinese president delivers speech in Tanzania
Chinese president starts state visit to Tanzania
Chinese president concludes state visit to Tanzania
In South Africa
South African Presidency welcomes Chinese leader's visit
President Jacob Zuma will receive President of the People's Republic of China (PRC) Xi Jinping for a state visit to the Republic of South Africa on March 26.
South African President Jacob Zuma:
"The China state visit is absolutely very important. We have very good relations with China. I believe it is important that he pays us a state visit, first to show us that our agreements are still there and that the new ones that we are going to seal will continue. We could count ourselves as important in the eyes of China for the fact that this state visits it done properly to us," Zuma said.
Chinese President Xi Jinping:
Xi said in a written speech at the Tambo International Airport of Johannesburg that both China and South Africa are major developing countries with important influence, and both are highly dynamic emerging economies.
"I look forward to discussing plans of cooperation with leaders of other BRICS countries and African nations. I believe that with concerted efforts of all participants, the meeting will be a successful one and take the solidarity and cooperation of developing countries to a new high," he said.
Xi will attend the fifth leaders' summit of BRICS countries, to be held from March 26 to 27 in Durban, South Africa.
Chinese president attends welcome ceremony held by S African counterpart.
China and South Africa agreed on March 26 to prioritize bilateral relationship in their respective foreign policies and called for a more equal and balanced global partnership for development.
Transnet, a South African state-owned transport and logistics company, and China Development Bank (CDB) on Tuesday signed an agreement to cooperate in upgrading infrastructure projects.
China, Africa bound to join hands: analysts
South Africa keen to boost ties with China: deputy minister
In the Republic of Congo (ROC)
Republic of Congo ambassador hails Xi's visit
The Republic of Congo's (ROC) ambassador to China has hailed the upcoming visit of Chinese President Xi Jinping to Africa.
| 5th BRICS Summit|
|Time: March 26 to 27|
Location: the coastal city of Durban, South Africa
Theme: BRICS and Africa: Partnership for Development, Integration and Industrialization
Purpose: seek ways of deepening their ties and forge new trade links with other parts of the world
Attendees: Chinese President Xi Jinping, Brazilian President Dilma Rousseff, Indian Prime Minister Manmohan Singh and Russian President Vladimir Putin. Several African leaders including Senegalese President Macky Sall and the Republic of Congo's President Denis Sassou Nguesso are also expected at the summit.
Ephraim Mokone, a Durban-based businessman and a father of two
"We are hoping that the deals signed here will bring new investments. We need more factories to create jobs."
Given Vongani, a tours shuttle driver from Johannesburg, in Durban on hire by some of the delegates attending the summit
"I did not know about the meeting but my expectations are that it will result in economic progress of the country."
Kutlwisiso Mokone, a recent university graduate
Kutlwisiso Mokone said he hopes that the summit will help his country improve its economic performance, and sees good leadership in pulling such important world leaders into his country.
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