economic and trade cooperation

Many African countries have attained economic growth because of China’s financial and technology assistance, said an Ethiopian senior government official in Johannesburg on Wednesday.

Arkebe Oqubay, special advisor to Ethiopian Prime Minister,said this at a conference organized by the China-Africa Joint Research and Exchange Program and the University of Johannesburg Center for Africa-China Studies titled “Understanding Africa-China Industrial and Infrastructural Cooperation: Drivers and Prospects.”

“China is the largest financier and contractor of infrastructure in Africa. China’s loans are negotiated and they allow for some countries to pay back after 10 or 20 years. Chinese assistance have contributed to Africa’s economic growth,” he said.

Oqubay stated that African countries get the value for money in China since the cost of production have dropped by over 50 percent with much efficiency on the delivery by Chinese companies.

The Ethiopian official stated that many African students benefited from the Chinese scholarships. After returning from China, they contribute to their countries’ economic growth.

Oqubay said China’s growth have created a health multi-polar world which is good for new international order.

“China have also contributed to peace building in Africa. Africa have to improve their environment to attract more Chinese companies. Ethiopian have benefited in the transport and energy sector from China,” he said. Enditem

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