China's Hu urges more Africa ties

newstyle · (#1 (**permalink**))

Chinese President Hu Jintao has called for greater co-operation between China and Africa, during a speech to the Nigerian National Assembly. President Hu is now en route to Kenya, as part of a week-long tour of Africa - his second in three years.
On Wednesday, China secured four oil drilling licences from Nigeria in a deal involving $4bn in investment.
Nigeria, sub-Saharan Africa's top oil exporter, has long been viewed by China as a partner.
Addressing a joint session of the National Assembly in Abuja, President Hu said it was time for a new strategic partnership between China and Africa.
"Africa has rich resources and market potentials, whereas China has available effective practices and practical know-how it has gained in the course of modernisation," Mr Hu said.

"China's development will not pose a threat to anyone. On the contrary, it will bring more development opportunities to the world," the Chinese president added.
Nigerian parliamentarians gave the Chinese president a standing ovation at the end of his speech.
The BBC's Alex Last in Abuja says the state visit is being seen as a success for both countries.
It is a rare honour in Nigeria for a foreign dignitary to address a joint session of the National Assembly, and this indicates how Nigeria values its relationship with one of the world's fastest growing economies, our correspondent adds.
Deal
The deal signed on Wednesday is one of seven co-operation agreements signed by Nigeria and China during the president's visit.
China will buy a controlling stake in Nigeria's 110,000 barrel-a-day Kaduna oil refinery and build a railway system and power stations.
The African nation will offer first right of refusal to China National Petroleum for a quartet of exploration blocks during a licensing round due to be held in Nigeria on 19 May.
The blocks comprise two areas in the oil-producing Niger Delta - one onshore and one in shallow water - and two areas in the higher-risk inland Chad basin, where no oil is produced at present.
Last week Chinese state oil firm CNOOC said it had completed a $2.3bn deal to buy a stake in a Nigerian oil field.
Several Chinese companies have already constructed factories in Nigeria and more are planned for a free trade zone in the south-east of the country.
President Hu, who previously visited Nigeria in 2004, started his African trip in Morocco where he signed a number of trade deals with King Mohammed VI.
The visit comes in the wake of a series of others to Africa by Chinese ministers and officials.
http://news.bbc.co.uk/1/hi/world/africa/4949688.stm

Burning Spear · (#2 (**permalink**))

Wake up please?

Peacemaker · (#3 (**permalink**))

To what? for once a nation that actually wants to pay to get something out of Africa. Makes a change.

defyfear · (#4 (**permalink**))

Response

http://www.blackchat.co.uk/theblackf...m32/21452.html

Shemsi en Tehuti · (#5 (**permalink**))

Here is the real deal with China. Word is that the only reason China's economy has not grown faster than it already has is the lack of oil and other resources.They were trying to tap the Middle East (Iraq and Iran), but U.S. corporations has made it difficult for them sucking up most of the oil. Therefore, China is now looking to Africa. If Africans play it smart, they can actually come out ahead as long as they don't follow suit with the savage Arab Muslims squandering all of their oil profits.

Burning Spear · (#6 (**permalink**))

If you think that Africa will be fairly compensated for its resourcess, please buy this bridge in Brooklyn from a brother?

newstyle · (#7 (**permalink**))

Burning Spear wrote:

Quote:

If you think that Africa will be fairly compensated for its resourcess, please buy this bridge in Brooklyn from a brother?

The question is it gonna be any worse doing business with the Chinese then with Europe and the USA? I doubt it will be. Europe is convinced of fair compensation as they're falling over themselves to do business with China, the USA also.

MarcusGarveyLives · (#8 (**permalink**))

... from the Council on Foreign Relations - the promotional arm of the Ruling Elite in the United States of America.

Most US influential politicians, academics and media personalities are members, and it uses its influence to infiltrate the New World Order into American life. Its' "experts" write scholarly pieces to be used in decision making, the academics expound on the wisdom of a united world, and the media members disseminate the message.

Here's what it has to say ...

China, Africa, and Oil (click for more)