China and the UN Development
Program signed a project paper in Beijing on Wednesday to set
up the China-Africa Business Council (CABC).
The council will be a joint program to further boost
Sino-African trade and cooperation, especially in the private
sector. It is believed to be the first Public-Private Partnership
initiative between China and Africa under the South-South
Cooperation Framework, said Khalid Malik, UN Resident Coordinator
in China.
He said at the signing ceremony that China has been the anchor
for South-South cooperation and its government is committed to
upgrading its ties with Africa politically and economically. China
is striving to find new ways to boost bilateral trade and
investment links.
There exists a huge potential for increased trade and investment
between China and Africa, Malik said, noting that the economic
cooperation with African countries impacts on their capacity
building and skills development, and promotes the role of the
private sector as a key player in contributing to growth in trade,
investment and national development,
Malik cited the project as a key initiative to help strengthen
economic links through promotion of Public Private Partnerships and
said it will form a new mechanism to facilitate information sharing
and access, thereby deepening Sino-Africa trade and investment in a
concrete way.
According to the project, the CABC will provide practical
support to the private sector to help conduct trade and investment
activities in Cameroon, Ghana, Mozambique, Nigeria, South Africa
and Tanzania. The project will also establish a network of key
players across the China-Africa business spectrum.
(Xinhua News Agency November 18, 2004)