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China to support economic expansion programmes and trade PDF Print
Written by Staff Reporters   

China and Namibia this week agreed to work together to strengthen cooperation in the areas of mining, agriculture, tourism, manufacturing and human resources development. The commitment was made during talks in Windhoek between visiting Chinese President Hu Jintao and President Hifikepunye Pohamba.

Pohamba and Jintao said they will continue to encourage their business people to increase contacts and expand cooperation and also pledged to create conditions to facilitate two way trade and investment.

“The government of China reaffirmed its readiness to provide assistance to Namibia within its capacity and to support the efforts of Namibia in promoting economic growth and social progress,” said a joint communiqué, which was issued after Hu's visit to Namibia this week.

Hu pledged funds to help facilitate Namibian exports to China and strengthen the country's economy.

Minister of Finance, Saara Kuugongelwa-Amadhila told journalists that Hu pledged US$100 million to develop exports from Namibia and a further US$128.9 million to help Namibia expand its economy. In addition, China and Namibia signed three bilateral agreements on tourism, youth development and skills training.

Chinese foreign minister Li Zhaoxing said in a statement released by the Chinese embassy ahead of the visit that bilateral trade between Namibia and China reached N$1 billion in 2005.

Namibia mainly exports raw copper to China. Chinese construction companies are the country’s biggest investment in Namibia and are involved in some of the government’s biggest building projects.

 
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DATE: Fri 19 Dec -
Thu 08 January 2009
Volume 22 No.50