Rwanda : China makes US$100,000 pledge to EAC

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The People’s Republic of China has made a pledge of US$ 100,000 to the East African Community (EAC) Secretariat to help in “scaling up” trade with the regional economic bloc, and to support in developing cooperation programs between China and EAC member states.

China’s intentions to step trade with East Africa was also evidenced by an invitation for a business delegation from the EAC Partner States as well as holding an EAC-China investment forum in the near future.

This was revealed during discussions held Chinese government and EAC officials in Arusha, Tanzania yesterday. The delegates discussed among other issues the creation of partnerships to promote trade, investment and infrastructure development.

The Chinese government was represented by the Deputy Director General of the Department of West Asian and African Affairs of China’s Ministry of Commerce, Cao Jiachang, accompanied by a 30-member delegation comprising government officials and representatives from several reputable Chinese firms.

Jean Claude Nsengiyumva, Deputy Secretary General in charge of Finance and Administration, led the EAC delegation.

The two parties deliberated on a number of areas that offer the potential for collaboration between EAC and China including the energy, infrastructure, customs and trade, industrialization and tourism sectors. Also discussed was the potential for building partnerships in the gender and youth segment, political affairs as well as developing the resources of Lake Victoria and its basin.

Participants also discussed potentially lucrative business ventures in areas such as ship and ferry building, pharmaceuticals, petro-chemicals, development of ports and development of regional road infrastructure.

The Chinese delegation also expressed concrete interest in ramping up dealings particularly with EAC region, stating that currently the EAC accounts for a paltry 3% of trade between China and Africa.

The talks were held in the context of the Framework Agreement on Economy, Trade, Investment and Technical Cooperation that the EAC and the People’s Republic of China signed in November last year.

 

 

About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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