Meeting to analyse projects presented to China

A delegation of executives from Exing Bank, the Development bank and the Chinese Minister for trade held a working meeting on the afternoon of Tuesday 21st May, at the headquarters of the Ministry for Foreign Affairs and Cooperation.

The aim of this meeting was to look at how it is possible to channel the projects that Equatorial Guinea presented to the People’s Republic of China within the framework of the China-Africa Cooperation Forum (FOCAC) following the release of 60,000 million dollars made by the president, H. E. Xi Jimping, last September in Beijing, during the celebration of the conference with African leaders, in order to finance development projects on the African continent.

The meeting was overseen by the Minister for Foreign Affairs and Cooperation, Simeon Oyono Esono, accompanied by the Minister for the Economy, Finance and Planning, Cesar Augusto Mba Abogo, the Secretary of State for the Treasury, Milagrosa Obono Angue, and Alejandro Micha Nsue, president of GeProyectos.

The aim is to seek mechanisms for the implementation of various development projects in Equatorial Guinea for the 2019-2021 period, which fit in with the Government strategy of creating a Special Economic Zone through a more open and favourable investment climate for foreign capital, in relation to the Executive plan to bring the country to emergence through diversification of the national economy, cohesion and social equality by 2035.

To give the green light to this Economic Zone, the Equatoguinean party chiefly proposes the construction of petroleum product storage tanks; the implementation of a chocolate and textile industry; a footwear factory; a palm oil refinery; mattress and school materials factories; toilet paper and serviette factories; the extension of the fibre optics, together with the setting up of industries for soap production.

Shen Xiang, Director General for West Africa and African Affairs from the Chinese Ministry for Commerce, who led the delegation from the Asian giant, declared the willingness of his Government to accompany Equatorial Guinea in its plan to industrialise the national economy, following the recent celebration of the Third National Economic Conference.

During the bilateral meeting, the two parties set out the sectors in which cooperation would be extended during the next meeting of the Guinea-China Mixed Commission on Cooperation meeting, to take place in the city of Beijing, on 7th June.

Source: Equatorial Guinea Press and Information Office

You May Also Like