Cyril Ramaphosa applauds China on delivering on its funding promise
China has defended its multi-billion dollar investments and loans to Africa, with President Xi Jinping saying there are no strings attached.
Tue, 04 Sep 2018 11:14:07 GMT
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AI Generated Summary
- The China-Africa Industrialization Plan, the Agricultural Modernization Plan, and the Infant Structure Plan have significantly contributed to industrial growth, agricultural productivity, and connectivity in Africa
- President Xi Jinping's pledge of $60 billion in new funding for African countries underscores China's commitment to promoting peace, stability, and sustainable development on the continent
- The need to balance the trade structure between China and Africa was highlighted, with emphasis on achieving a win-win outcome that benefits both regions
South Africa's President Cyril Ramaphosa commended China for its unwavering support and significant investments in Africa, during his speech at the China-Africa Cooperation conference. The conference, which has been a pivotal platform for fostering economic ties between the two regions, has seen substantial progress in various developmental initiatives. President Ramaphosa highlighted the positive impact of the China-Africa Industrialization Plan, the Agricultural Modernization Plan, and the Infant Structure Plan on driving industrial growth, enhancing agricultural productivity, and improving connectivity and integration across the continent.
President Xi Jinping's announcement of new FOCAC initiatives, including a $60 billion funding commitment to support areas such as industrial development, infrastructure projects, human resource development, and sustainable practices, was met with enthusiasm and gratitude by President Ramaphosa. The funding is expected to bolster peace, stability, and sustainable development in Africa, further solidifying the partnership between China and African nations.
Acknowledging China's remarkable economic progress and social development achievements, President Ramaphosa emphasized the importance of learning from China's growth model and approach to addressing societal needs. With China emerging as Africa's largest trading partner, the need to balance the trade structure between the two regions was underscored. President Ramaphosa expressed optimism that through platforms like FOCAC, efforts can be made to ensure a mutually beneficial trade relationship that enhances economic prosperity and job creation in Africa.
The conference further highlighted the potential for Africa to leverage China's resources and expertise for its development. President Ramaphosa praised China for its role as a catalyst for advancing social and economic progress in Africa and stressed the significance of cooperation between the two regions in achieving sustainable growth.
In conclusion, President Ramaphosa's address at the China-Africa Cooperation conference underscored the importance of strengthening the strategic partnership between China and Africa for mutual benefit and sustainable development. The commitment of both parties to fostering economic growth, enhancing trade relations, and promoting peace and stability bodes well for the future of Sino-African cooperation.
