New partnership needed in new era (China Daily) Updated: 2006-04-28 08:50
Visiting President Hu Jintao yesterday called for more innovative efforts to
intensify partnership with Africa after China and Nigeria signed a slew of
agreements, including one awarding China four oil-drilling licences in the
African country.
Hu said the partnership should cover politics, the
economy, security and international affairs; and reiterated that China's growth
is "not a threat" to others.
"On the contrary, it will bring more
development opportunities to the world."
Addressing a joint session of
Nigeria's National Assembly, Hu said: "China will continue to work with Africa
to widen China-Africa co-operation and inject new vitality into it."
Hu
made the remarks on the second day of a two-day visit to the most populous
country in the African continent at the invitation of President Olusegun
Obasanjo.
Describing African nations as "good friends, good partners and
good brothers" of China, Hu said more efforts are needed to build "a new type of
strategic partnership in the new era."
He proposed to boost mutual trust
in politics through high-level exchanges, expand win-win partnerships with
increased investment and security co-operation as well as co-ordination in
international affairs.
"China and Africa enjoy great complementarities in
their economies," he said. "The co-operation based on mutual benefit suits the
interests of both sides."
The rich resources in Africa match China's need
for raw materials for sustained economic growth while African countries want to
accumulate capital by developing the resources and strengthen the local
economies.
Trade between China and African countries is estimated to be
US$40 billion last year, according to Foreign Ministry statistics. Some 750
Chinese enterprises have invested a total of US$1 billion in the
continent.
Hu said a joint declaration laying out specific measures to
intensify Sino-African co-operation would be issued at the China-Africa
Co-operation Forum summit to be held in Beijing in November.
Nigeria's
Minister of State for Petroleum Edmund Daukoru said yesterday that the
Sino-Nigerian agreement "is a formalization of the four oil block contracts,
which include the maintenance and management of the Kaduna refinery and setting
up a power generation station."
In exchange, China will grant Nigeria 40
million yuan (US$5 million) for infrastructure construction and 5 million yuan
(US$624,000) for anti-malaria drugs, training for Nigerians to control malaria
and bird flu, and co-operation in technology, according to other agreements
signed the same day.
Last week, China's top offshore oil and gas
producer, China National Offshore Oil Corp Ltd, completed a deal to buy a stake
in a Nigerian oil-mining licence its biggest overseas
acquisition.
"The main purpose of my visit is to deepen the
Chinese-Nigerian relationship and strengthen the partnership both politically
and economically," Hu said at the signing ceremony with Obasanjo.
Nigeria
is the largest oil producer in Africa and the world's sixth-biggest
exporter.
During talks between the two leaders before the signing, Hu
proposed to expand partnerships in areas such as agriculture, energy,
electricity, infrastructure construction, telecommunications and satellite
technology.
Obasanjo said Nigeria welcomes more investments from China;
and spoke highly of Beijing's policy of establishing industry in his country
rather than the wholesale export of finished products.
Analysts
said the oil deal was a good fit for both countries.
"China is an
emerging world economy; she needs oil," former Nigerian foreign minister Bolaji
Akinyemi said. "Nigeria needs as much investment as possible and to diversify
the sources of its income."
Sino-Nigerian trade volume was US$2.83
billion last year, up 29.6 per cent from 2004, according to Foreign Ministry
statistics.
China also has major investments in Nigeria's fast-growing
telecoms industry and has found a ready market for textiles and other finished
goods.
"Stronger ties between China and Nigeria are long overdue," said
Wang Yusheng, former Chinese ambassador to Nigeria. "Many Chinese do business
there and contribute a lot to the regional development."
Hu is scheduled
to arrive in Kenya today on a state visit, the last stop of his five-nation
tour, which has also taken him to the United States, Saudi Arabia and
Morocco. (For more biz stories, please visit Industry Updates) |