Doing Business With Africa: China Insists On Adequate Protection For Its Investments

The Foreign Ministry held a press briefing in the capital, Beijing, on April 11, 2017.

China’s is Africa’s largest trade partner, with investments spanning different sectors. By 2005, China had already invested over 100 Billion US Dollars (about 61,786 Billion FCFA) on the continent. The latest phase of cooperation between the two sides began in December 2015 at the Forum on China-Africa Cooperation, FOCAC, summit in Johannesburg, South Africa. Chinese President, Xi Jinping, on the occasion, pledged 60 Billion US Dollars (about 37,075 Billion FCFA) for the continent’s development in 10 priority areas in three years.

 In order to throw more light on China-Africa ties, officials of the country’s Foreign Ministry held a briefing for 27 African journalists in the capital, Beijing, on April 11, 2017. Dai Bing, Deputy Director for African Affairs, was accompanied by Li Yuan, Deputy Director for FOCAC. Bing recalled that ties between Africa and China go back to over 600 years when a Chinese navigator first arrived on the eastern coast of Africa. “As relations enter an accelerated phase, there is urgent need for African governments to ensure the protection of our investments and also cut down bureaucracy,” he went on.

Bing said by refusing to recognize the engagements of previous regimes, incoming African governments cause great losses to Chinese investors. “Consequently, these investors are obliged to renegotiate everything from afresh,” he explained. The senior Foreign Ministry official added that recurrent terrorist attacks, abductions, mari...

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