Skip to main content

China taps Africa at Morocco Silk Road investment forum

https://m.news24.com/Africa/News/china-taps-africa-at-morocco-silk-road-investment-forum-20171127


 12:31 28/11/2017

Marrakesh - A two-day investment forum opened in Morocco's Marrakesh on Monday as China seeks to revive ancient Silk Road trade routes from Asia to Europe and Africa.

"The question is how to accelerate cooperation in the field of investment," said Wang Yong, vice president of the China-Africa Development Fund.

The event brings together 400 business executives including 150 from China.

Morocco's Industry Minister Moulay Hafid Ellalamy said China and Africa "share the same quest for development".

"The Silk Road initiative will change the map of international trade," he said, adding that trade and cooperation were already at "unprecedented" levels.

The "One Belt, One Road" initiative, unveiled by Xi Jinping's presidency in 2013, envisages linking China with Africa, Asia and Europe through a network of ports, railways, roads and industrial parks.

"China needs Africa and Africa needs China. We want to tighten ties together," said Tony Dong, executive president of the Sino-European Entrepreneurs Federation.

He said Chinese came to Marrakesh "for investment opportunities".

"The Chinese make business partners all over the world," he added.

China is Africa's key business partner, with trade reaching $190bn in 2016, according to figures released at the forum.

Around 10 000 Chinese industrial enterprises operate in Africa, generating annual business of more than $60bn.

Last year, China was the top foreign investor in Africa with $31.6bn, the figures given at the forum showed.

By the end of 2016, Chinese companies had contributed to projects including railways, highways, ports, airports and power stations in Africa

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…