Pan Africanism : Chinese-Nigeria Free Trade Zone

Discussion in 'Black History - Culture - Panafricanism' started by militant, Jun 26, 2006.

  1. militant

    militant Well-Known Member MEMBER

    Joined:
    Jun 21, 2005
    Messages:
    335
    Likes Received:
    3
    Ratings:
    +3
    Date:May 25 2006

    The Sino-Nigerian Lekki Free Trade Zone (FTZ) set in the Atlantic Ocean coast some 60 km away from Nigeria’s commercial capital of Lagos, has been considered as a symbol of the Chinese businessmen’s substantial step to carry out a "go abroad" development strategy in Africa.

    In an interview with Xinhua, Chen Xiaoxing, head of the Chineseside of the Lekki FTZ, said the Lekki FTZ is a Chinese-Nigerian joint venture project with China’s CCECC-Beyond International Investment & Development Co., Ltd. holding 60 percent of shares and Nigeria’s Lekki Global Investment Co., Ltd.,the remaining 40 percent of shares.

    Chen, also board chairman of the Lekki FTZ Development Company,said, the project aims to "build up a modern Chinese-type industrial city in Lagos under the leadership of the Lagos state government while helping first-rate Chinese enterprises to develop themselves abroad."

    Lekki FTZ project, being the first of its kind the Chinese government has ever built abroad, will be carried out in three phases. The first-phase will covers an area of 15 sq. km with the Chinese side investing 200 million U.S. dollars and the Nigerian side 67 million dollars. Upon its completion in 2009, the phase-I project will see an industrial park highlighted by light industry,textiles, building materials, household electric appliances, communications, machine processing and building as well as real estate and gardening building.

    The phase-II and Phase-III projects, will cover 150 sq. km with a total investment of 5 billion dollars, focusing on heavy industry manufacturing, chemicals, petroleum processing, pharmaceuticals, automobiles, logistics, import/export businesses,deep-water port, tourism, real estate, education, banking and finance, among others.

    "Our goal is to turn the Lekki FTZ into a new, vigorous and multiple-functional international satellite town of Lagos," Chen said.

    He said China, the largest country in Asia and Nigeria, the largest country in Africa, can learn each other and help each other, adding that China owns fairly advanced technology and professional skills which are most suitable for Nigeria while Nigeria is rich natural resources which Nigeria hopes China to help it tap and develop locally into semi-finished or finished products for export.


    According to Chen, the Lekki FTZ, when completed and put into operation eventually, will offer more than 300,000 jobs, further enlivening economic activities of Nigeria’s economic enter of Lagos.

    The Lekki Free Trade Zone was officially launched on May 11.


    http://www.ccct.org.cn/ccct/ccct/sh...um=03ne00000184
     
  2. Omowale Jabali

    Omowale Jabali The Cosmic Journeyman PREMIUM MEMBER

    Country:
    United States
    Joined:
    Sep 29, 2005
    Messages:
    21,179
    Likes Received:
    9,463
    Gender:
    Male
    Occupation:
    Creative Industrialist
    Location:
    Temple of Kali, Yubaland
    Ratings:
    +9,585
  3. militant

    militant Well-Known Member MEMBER

    Joined:
    Jun 21, 2005
    Messages:
    335
    Likes Received:
    3
    Ratings:
    +3
    I support the chinese businesses because some Western Nations are setting up bases in West Africa. The Chinese businesses will be a deterrant for invasion at least for the next 15 years before desperation outweighs any respect for international relationships with China. More like the case of nations like Iran, where the West has to confront Chinese and russian interests. This gives us a window of opportunity to pursue aggressive development policies for ourselves. Africa can play such stale-mate game if we are wise enough.
     
  4. kemetkind

    kemetkind Well-Known Member MEMBER

    Joined:
    Oct 8, 2005
    Messages:
    1,599
    Likes Received:
    60
    Ratings:
    +61
    Excellent post brother militant. :thinking:
     
  5. I-khan

    I-khan Well-Known Member MEMBER

    Joined:
    Dec 27, 2005
    Messages:
    1,344
    Likes Received:
    46
    Ratings:
    +47
    good call,perhaps it will turn out that way with the stalemate games.
     
  6. FLATFOOTFLOOGIE

    FLATFOOTFLOOGIE Banned MEMBER

    Joined:
    Jun 14, 2006
    Messages:
    93
    Likes Received:
    2
    Ratings:
    +2
    PanAfrica: China And Africa - for Better Or for Worse?

    UN Integrated Regional Information Networks

    ANALYSIS
    June 27, 2006
    Posted to the web June 27, 2006

    Dakar

    Given China's growing hunger for natural resources and Africa's persistent need for economic aid, the world's most populous country and the globe's poorest continent appear to be nurturing a perfect symbiotic relationship.

    Or is it?

    China has dubbed 2006 the "Year of Africa." Chinese Premier Wen Jiabao just wrapped up an African tour of seven nations, including Egypt, Ghana, Congo, Angola, South Africa, Uganda and Tanzania. Chinese President Hu Jintao visited Nigeria, Kenya and Morocco earlier this year.

    In addition, Senegalese President Abdoulaye Wade last week became the latest African head of state to make an official visit to China. Beijing will host a China-Africa summit in November.

    "Our objective through this cooperation with Africa is to reinforce the capacity of Africa to have its own autonomous development," said Jiabao during his visit to the Congolese capital Brazzaville. "In cooperating with Africa, China is not looking for selfish gains. We are committed to two principles: equality, benefits both ways, and the non-interference in internal African affairs."

    NO STRINGS ATTACHED

    But human rights groups caution that China's quest for raw materials could undermine respect for human rights and efforts at political reform in Africa.

    "We do recognise that China is having an adverse effect on human rights in other countries because by dealing with repressive regimes, such as in Sudan, and putting its economic and trading interests ahead of concern for human rights it's allowing these regimes to be provided with resources that they would not otherwise get so easily," said Sariah Rees-Roberts, a press officer for London-based Amnesty International.

    Whereas Western donors often condition aid on political reform and respect for human rights, China essentially asks only one thing of African nations: that they adhere to its one-China policy. African countries that fail to recognise Taiwan as a part of China are unlikely to benefit from investment and debt relief from Beijing.

    Likewise, African nations, including those with poor human rights records, can benefit diplomatically. China, as one of five permanent members on the UN Security Council, has already threatened to veto sanctions against Sudan for what some Western nations call genocide in Sudan's Darfur region. Sudan is a key oil supplier to China.

    To help fuel its booming economy, China is investing in Africa like never before. The International Monetary Fund (IMF) estimates that Africa's growth is edging towards six percent, the highest in 30 years, due in part to Chinese investment. Total trade between Africa and China should exceed US $50 billion this year and could reach US $100 billion by 2010, according to the IMF.

    "On one hand I think it can be very beneficial to Africa - the demand that China is creating for natural resources and products that Africa has," said Walter Kansteiner III, former US assistant secretary of state for African Affairs. "It lifts prices, brings volume up and increases opportunities for increased capital flow and employment opportunities for Africa."

    "What is going to be a challenge going forward is to make sure that those increases in supply and demand are matched in an orderly, environmental, and from a human rights point of view, in a proper way," he said.

    THIRST FOR FUEL

    China's biggest appetite is for petroleum. Angola, sub-Saharan Africa's second largest oil producer behind Nigeria, now exports most of its oil to China. Beijing has invested billions in Angola, Nigeria and Sudan to secure drilling rights.

    China also has high demand for other resources, including cotton. Chinese cotton imports from Benin, Togo, Mali, Cameroon and Burkina Faso, have boomed. Imports from Benin alone increased at least four-fold between 2002 and 2004, according to UN commodity trade statistics.


    In return, African markets have been flooded with inexpensive Chinese goods such as kitchen utensils, shoes, electronic goods and clothes. Chinese exports to Nigeria, Africa's most populous nation, have doubled since 2002.

    However, some African manufacturers, specifically textile manufacturers, have suffered as a result. The South African Textiles Union says some 60,000 jobs have been lost.

    "On the one hand learning to stand up against competition is a good thing because that's the way forward, but on the other hand, because the manufacturing sector is quite weak in Africa, that could easily wipe out young industries," said Andrea Bohnstedt, Africa analyst with Global Insight, a London-based economic and political forecasting company. "And also it's obviously politically unpopular because most African countries have quite high unemployment rates already."

    Page 1 of 2 1 2


    http://allafrica.com/stories/200606270452.html
     
Loading...