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home » Archive » China_in_Africa

Sunday, May 28, 2006

China's Hu boosts Kenyan business

Filed under: China in Africa
Chinese President Hu Jintao has signed an important oil exploration agreement with Kenya during his trip to Nairobi.
Six other deals have also been signed on malaria, rice and roads. Mr Hu is also due to visit wildlife parks that are eager to attract Chinese tourists. Kenya is keen to secure Chinese investment deals in the pharmaceutical and technology sectors.

Mr Hu is in Kenya on the final leg of his week-long Africa tour, during which he has tried to boost trade links.

The president's trip has focussed on deals to expand Chinese investment in Africa's natural resources, especially oil, to satisfy China's energy-hungry economy.
On Wednesday, China secured four oil drilling licences from Nigeria in a deal involving $4bn in investment.

Arriving in Kenya's capital, Nairobi, on Thursday night at the start of a three-day visit, Mr Hu was met by Vice-President Moody Awori and members of the Chinese community living in Kenya.

The deals cover:

* Road maintenance in Nairobi
* Support for rice-growing schemes
* Maintenance of a sports centre
* Setting up an anti-malaria health centre.

The BBC's Karen Allen in Nairobi says it the first visit to Kenya by the Chinese president, but not the first time he has met its head of state.

Less than a year ago Kenyan President Mwai Kibaki travelled to China to secure a number of trade deals and loans for Kenya.

On Thursday, addressing a joint session of Nigeria's National Assembly, 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.

He also said China's development will not pose a threat to anyone and was an opportunity to bring more development.
BBC.

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