Trade and aid are expected to top discussions during the China-Africa Summit. (Image: Radio86)
Trade and aid are expected to top discussions during the China-Africa Summit. (Image: Radio86)During the China-Africa Summit in Beijing, China is expected to announce an aid, trade and development package in Africa. The Summit began this Friday and is being attended by 48 African leaders.
The Summit follows the Forum on China-Africa Cooperation (FOCAC), and will close on Sunday. It emphasizes China's deepening relationship with Africa but has raised concerns from rights group about its relationship with Sudan and Zimbabwe.
China's trade with Africa is expected to be more than 39 billion euros this year, consisting mainly of sales to China of oil and other raw materials.
Analysts expect that the Summit might finally bring into fruition some deals between China and Africa that have been in the pipeline.
Ghana's energy minister, Joseph Adda, said that a $600 million deal with Sino Hydro Corporation to build a 400-megawatt hydroelectric dam, was soon to be finalized with financing from the state-owned Export-Import Bank of China.
In Gabon, a Chinese consortium had recently signed a $3 billion iron ore deal. The deal includes extending a railway and building a bulk commodities and container port.
Chinese investors will also build a $200 million smelter in Zambia. The smelter can produce 150,000 tons of finished copper a year, most of which, according to Yahoo! News, are intended to be sold to China.
Apart from trade, analysts say that social development also tops the Summit agenda. China is also expected to announce debt reduction or more training and scholarships for African students.
Rights groups, however, are not happy with China's policy of non-interference in domestic affairs, which they say, has helped the governments of Sudan and Zimbabwe. China should work for the improvement in human rights, Human Rights Watch said. Western nations have limited trade with Sudan and Zimbabwe until the human rights situation improves there.
Textsource: Yahoo! News