The 8th session of the Chinese-African Businessmen Conference was held, with the official participation of the Libyan business sector.
Chinese President Xi Jinping announced major partnership measures to develop China’s relationship with Africa in the next three years, within the “Forum on China-Africa Cooperation (FOCAC) 2024”.
In an opening speech, Chinese President Xi Jinping pledged to “finance $50 billion worth of projects on the African continent over the next three years.”
According to what was published by the Ministry of Economy and Trade of the Government of National Unity, the Chinese President explained, “The financing pledge includes $29.6 billion, which will be disbursed through credit lines, and new investments worth $10 billion.”
He added: “The main partnership measures announced by His Excellency the Chinese President to develop China’s relationship with Africa in the next three years are summarized as follows:
- Mutual education among civilizations: establishing the China-Africa Knowledge Network for Development including the establishment of 25 China-Africa research centers.
- Partnership for Trade Prosperity: China grants 100% duty-free trade to least developed African countries, reaching 33 African countries to date.
- Cooperation in industry chains.
- Connectivity and integration: 30 infrastructure projects in Africa by China.
- Development cooperation: China waives government loans among African least developed countries that have diplomatic relations with China by the end of 2024.
- health care.
- Rural revitalization and people’s well-being.
- People-to-people exchange: China to provide 60,000 training opportunities for Africa, prioritizing women’s empowerment and youth development.
- Green development: China has implemented 30 clean energy and green development projects, and established a special fund for the China-Africa green industrial chain.
- Joint Security: Providing a military grant worth 1 billion Chinese yuan to support African countries to strengthen their military forces.
The Chinese president pointed out that “no one can be left behind on the path of modernization, and no country can be left behind between China and Africa, which together constitute one-third of the world’s population,” citing the African proverb: “People who take the same journey are true friends.”
It is noteworthy that “the most important participants from the Libyan business sector in this session are: Mohammed Al-Raid, Chairman of the Federation of Chambers of Commerce and Industry, Rashid Sawan, Chairman of the Business Owners Council, and Chairman of the Libyan Industries Federation, Naim Bou Abdullah, Chairman of the Libyan-Chinese Joint Chamber, Milad Al-Buraiki, Chairman of the Libyan-Chinese Joint Business Owners Council, in addition to a significant number of Libyan businessmen working in the Chinese arena, and heads of chambers of commerce.”
Last updated: September 7, 2024 – 12:36
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2024-09-08 00:38:34