China and West African nations on Thursday signed a credit
agreement that involves tens of millions of euros, a follow-up to
the China-Africa summit held last month in Beijing.
At the end of a two-day forum, the China Day of Economy, the
Import and Export Bank of China and the West African Development
Bank (WADB) signed the document under which China will provide 70
million euros (US$90.7 million) in credit.
The People's Bank of China signed a separate agreement with the
WADB to provide US$1 million dollars in a technical cooperation
fund.
On behalf of Togolese Prime Minister Yawovi Agboyibo, who opened
the China Day of Economy in Lome on Wednesday, Minister of
Commerce, Industry and Handicrafts Jean-Lucien Savi de Tove
addressed the closing of the forum, saying it has brought hope of
economic development to the West African Economic and Monetary
Union (UEMOA).
He said he was looking forward to a new era of economic
cooperation and mutual benefits between China and the UEMOA.
The economic integration in the region must be based on the
model of a fruitful strategic partnership between China and African
nations, the minister added.
During the China Day of Economy, participants explored ways to
broaden cooperation, especially in personnel training, technical
transfer and infrastructure construction. They also exchanged views
on regional investments and economic potential, reaching the
consensus that closer ties should be forged between Chinese and
West African business circles.
The UEMOA, established in 1994, groups Burkina Faso, Mali,
Senegal, Togo, Benin, Niger, Cote d'Ivoire and Guinea-Bissau. The
group, which comprises all of France's former West African colonies
except Guinea, aims to promote the free movement of people, goods
and capital among the member states. The UEMOA states are also
members of the larger Economic Community of West African states
formed by all the 16 countries in the West African region.
(Xinhua News Agency November 24, 2006)
