New cooperation focus between China and Equatorial Guinea

The XIX National Congress of the Communist Party of China (CPC) recently took place, which was not only an event of great interest for the development of the People’s Republic of China, but also for the rest of the world, signifying in addition a new perspective on cooperation with the Republic of Equatorial Guinea.

The CPC General Secretary, Xi Jinping, proposed in in the report presented before the XIX National Congress the aims and the strategy under the heading “All peoples must strive to build a community for human destiny”.

In recent years, with a continuing increase in political trust between China and Equatorial Guinea, the field of bilateral economic and commercial cooperation has widened, and significant success has been achieved.

From January to August 2017, the total volume of bilateral trade reached 1,030 million dollars, an increase of 87.14% with respect to the previous year. With regards to importation, the volume was 925 million dollars, an increase of 110.43%. Furthermore, the contractual value for new projects was 912 million dollars, and non-financial direct investment reached 31.18 million dollars.

Following the establishment of the Chinese Chamber of Commerce in Equatorial Guinea in October this year, the chamber will be able to guide Chinese companies under the Plan “Horizonte 2020”, and will strengthen cooperation in the industrial, agricultural, tourist and finance sectors, among others, creating more projects and assisting with the diversification of economic development in Equatorial Guinea.

At the same time, the Chinese Chamber of Commerce will be fully involved in the organisation and coordination, strengthening of communications, and cooperation with the business community in the country, guiding the sector in the operations of legalisation, integrated management, and the control of quality and safety. Furthermore, it will act as adviser and assistant to the Government, together with a developer and partner in the economic and social development of Equatorial Guinea, in order to contribute towards the community of destiny the economic and trade cooperation between the two countries.

The Chinese Chamber of Commerce will work closely with Equatorial Guinea, taking advantage of this potential for cooperation, and a strengthening of communications in the field of commercial investment and cultural exchange, promoting a new stage in integrated relations between the two partner countries, in order to bring about the aims of the congress.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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