Libya participated in the fourth China-Africa Summit held in Beijing from 4 to 6 September under the theme ‘‘Joining Hands to Advance Modernisation and Build a High-Level China Africa’’. Several Libyan entities participated, headed politically by the President of the Presidential Council, Mohamed Al-Menfi and several Libyan Ministers. The business sector sent several Libyan businessmen headed by the President of the General Union of Chambers of Commerce, Mohamed Raied.
China: largest trading partner of African countries for 15 consecutive years
The General Union of Chambers of Commerce reported that the summit was opened by the Chinese President, Xi Jinping, and about 33 African heads of state, in the presence of the Secretary-General of the United Nations, Antonio Guterres. The Chinese President stressed in his opening speech the strengthening of means of cooperation between China and African countries through this summit, especially in the economic aspect. He pointed out that this summit will be an important step towards strengthening China-Africa relations, as China has been the largest trading partner of African countries for 15 consecutive years.
On the sidelines of the summit, dialogue forums were launched that dealt with several areas, including agriculture, industry, peace and security, and the results of development cooperation.
China’s 40 billion dollar investments in Africa are continent’s largest source of foreign investment
The speakers also addressed the practical model for promoting all sectors of social and economic development in Africa, both on the trade and investment sides. These efforts have contributed to reducing dependence on food imports, training more than ten thousand personnel annually, and Chinese projects in the African continent that have contributed to the creation of one million jobs. This makes the Chinese investments in the African continent of 40 billion dollars until the end of last year – the largest source of foreign investment for Africa.
The speakers also stressed working closely with China to make the forum a success, which is attended by more than 5,000 people, including foreign and economic ministers from 53 African countries that are members of Forum on China-Africa Cooperation (FOCAC), as well as representatives from the African Union and other regional and international organizations.
The General Union of Chambers of Commerce noted that China has imposed zero tariffs on 98% of tariff products in 27 African countries. It has also contributed to the establishment of 300 advanced technologies to increase the production of African domestic crops by up to 30% to 60% on average. China has also adopted a supportive policy to promote “Made in Africa” in the Chinese market and exempt many products of African countries from customs duties upon their entry into the country.
