China pledges to help Angola in diversifying exports in bilateral tradeVisiting Chinese Vice Minister of Commerce Zhong Shan said here on Jan. 13 that China would help Angola in diversifying its exports to China as part of the efforts to boost trade relations between the two countries.Zhong made the pledge during his meeting with Angolan Minister of Trade Maria Idalina Valente to explore ways of further expanding trade and economic ties between the two countries.Zhong said China has attached importance to developing ties with Angola， the largest trading partner of China in Africa， and the 2010 visit to Angola by Chinese Vice President Xi Jinping brought Sino-Angolan ties to new highs.The Chinese official said crude oil was almost the sole product of Angola which ended up in Chinese markets despite the fact that trade volume between the two countries amounted to some 25 billion U.S. dollars in 2010， and the Chinese government has decided to reduce or waive tariffs on Angolan exports to China from January 1， 2011 to encourage Angolan businessmen to export more products to China， including agricultural produces， fish and other marine products and diamonds.Z h o n g said China and Angola have made substantial progress in bilateral cooperation in the fields of energy， basic infrastructures and agriculture， and the Chinese government has encouraged Chinese enterprises to invest in Angola and make technological transfers to the African country as well.For her part， Maria Idalina Valente said Angola welcomed China’s proposal to expand bilateral trade and economic cooperation on the basis of the strategic partnerships hammered out during Xi Jinping’s visit to Angola.The Angolan minister said the biggest challenge faced by her government is to diversify its oil-dependent economy and to build up industrial and manufacturing capabilities in the national economy.She said Angola is trying to improve its investment conditions and hopes to reach an agreement with China on the protection of investments by the year 2012.The minister said her country is also keen on learning from China’s development experiences in setting up special economic zones and zones of processing products for exports.Zhong arrived in Luanda earlier in the day for a twoday work visit to the African country. (Xinhua)China， Mauritius sign about 9 million U.S. dollars economic cooperation accordChina has signed an economic and trade cooperation accord with Mauritius worth about 9 million U.S. dollars， including 6 million dollars grant and 3 million dollars interest-free loan.The accord was signed on Friday and the signing ceremony was attended by visiting Chinese Vice Premier Hui Liangyu and Mauritius Vice Prime Minister and Minister of Finance and Economic Development Pravind Kumar Jugnauth.According to the accord， the grant and loan will fund projects agreed on by the two governments in the future.Hui and Jugnauth also agreed on boosting cooperation in science and culture and implementing the programs of the accord signed by the two sides.Hui also met Mauritius Prime Minister Navinchandra Ramgoolam in the capital of Port Louis on Friday when he started a three-day official visit to Mauritius.During the meeting， Hui commended the bilateral cooperation since the two countries established diplomatic ties in 1972 and the promising trend to further strengthen the ties in cultural exchange， education and tourism.He thanked the Mauritius government for its support on issues concerning the core interests of China.Hui noted that the two countries should keep pushing for extensive cooperation and high level exchange of visits， continue to building political trust between the two governments and implement the measures in the framework of China-Africa Cooperation Forum.Ramgoolam also spoke highly of the fruitful cooperation between the two countries and thanked China for the assistance in improving the country’s infrastructure including a new international airport which is under construction.Hui held talks with Mauritius opposition leader Paul Berenger on Saturday afternoon before he wraps up his visit to Mauritius， the first leg of his five-African country tour which will also take him to Zambia， the Democratic Republic of Congo， Cameroon and Senegal. (Xinhua)China to forgive half of Africa rail debtChinese Vice - Minister of Commerce Zhong Shan signed an agreement with counterparts from Zambia and Tanzania in Lusaka， Zambia’s capital， on Jan 19， to forgive 50% of the debt from China to build and operate the Tanzania-Zambia railway.The Chinese government took the action because of the traditional friendship between China and Africa， and Chinese people want to do their best to support African people’s development， said Zhong at the signing ceremony. He also said the Chinese government hopes the railway will operate with less debt and boost the regional economy and benefit the two countries.Chinahelped c on s t r uc t t he Tanzania-Zambia railway at the request of the leadership of Tanzania and Zambia in 1970， and handed it over after its completion in 1976. The Chinese government provided an interest-free loan of 988 million yuan to complete the project， and continued to provide such loans and technicians to ensure its operation. (Chinadaily.com.cn)Uganda: China Pledges More Support for Nation’s Oil and InfrastructureKampala - China will continue to assist Uganda in the development of its infrastructure and oil industry， Mr Sun Heping， the Chinese ambassador to Uganda has said.“The Chinese government has attached great importance to the development of infrastructure in Africa， Uganda in particular， and made it one of the key areas of cooperation in the framework of the China-Africa Cooperation Forum，” Mr. Sun told a Chinese news agency recently.He said the cooperation has provided a platform for China and African countries to have dialogues and implement several projects covering infrastructure， education and health funded by grants and preferential loans.He said the Chinese and Ugandan governments have been in close touch on the proposed Kampala-Entebbe highway project， the first in the country， which is expected to cost about US$350 million. “The project is currently in preparations stage and will get underway in 2011 if everything keeps at the current pace，” he said.The highway funded by preferential loan from China is to provide an alternative route linking the country’s capital and its international airport at Entebbe， 40 kilometres south of Kampala.Chinais also committed to working with Uganda in its nascent oil industry as China National Offshore Oil Corp(CNOOC) is seeking to partner with Total and Tullow to build an oil refinery in the western part of the country.President Museveni， is known to be in favour of building the country’s own oil industry with a complete chain of finished oil products. “China aims to assist Uganda build its own oil industry through participation in the production of oil products and assisting the country to attain its Millennium Development Goals before 2015 the Unites Nations’target years，” said Mr Heping.Ugandahit oil in the western part of the country in the Albertine Graben region in 2006. So far， Tullow， has discovered about one billion barrels of crude oil in the area. Tullow estimates that Uganda has a further potential of 1.2 billion barrels more in the Albertine basin which also borders the Democratic Republic of Congo. (allAfrica.com)China to fund US$900m projects in NigeriaNigeria says it has secured a US$900 million loan from China to boost infrastructure in Africa’s most populous country， the Associated Press reported at the end of 2010.Minister of Finance Olusegun Aganga told the reporters that the Nigerian government had signed a US$900 million loan agreement with the Export-Import Bank of China for the construction of a US$500-million railway in the capital and a US$400-million public security communications project.While Nigerian commercial banks avoid risk， China has become a major financier of projects across the continent， the report said.A Chinese report released Thursday said that China’s direct investment in Africa had reached US$9.33 billion in 2009， a jump from US$490 million in 2003. (China Daily)
