China working with Algeria and other African nations

March 8, 2016 OPINION/NEWS

By

Adel Soualah

Habib Yousfi, Algerian businessman and now former President of both the General Confederation of Algerian Enterprises (GCEA) and Forum for African Heads of Institutions, highlighted the projects and future vision of China emanating from the Johannesburg conference in 2015 and aimed to open the doors of economic exchange and investment that would change the world economic map, and Algeria in particular.

Yousfi in an interview said that the announcement by Chinese President Xi Jinping, at the Summit for Chinese cooperation in 2015 , was a starting point of a new era of Sino-African relations and where the Chinese President made prominent important points about raising a new style of strategic partnership between China and Africa towards a “comprehensive strategic cooperative partnership.” From this ten major plans will be presented to strengthen cooperation with Africa in the next three years, and also to provide 60 billion dollars earmarked for development projects on the continent loans.

 

 

Yousfi deemed this “a serious step towards the economic stability of exchanges between African countries internally and also would not be considered as an investment one of profit, but one that provides rewards between the two parties to ensure African interest, meaning there is a real long-term partnership.”

Yousfi said that China’s support for African countries would upset the institutions and produce a strong position to private steadfastness and that African states often and including Algeria, where the largest and most volatile developments in the oil market are, and this Chinese scheme will open new doors for other exports to over the deficit caused by low fuel prices in the world markets.

 

 

He also stated that China’s intention in implementing the project is evident in the seriousness of visits by Chinese President Xi Jinping, and also various programs and Chinese directed forums to African countries and Arabs too, aimed to conclude partnership agreements managed by dealer economies to benefit from the Chinese experience and also configure ties necessary for this future stage, dedicated to the development of the African economy. Yousfi also stressed that China’s intentions are not as long as the net regarding investment and economic exchanges between them and African countries, where it is neutral and not to be exploited for economic pressure. In addition to this, its support for the African nations in all circumstances, makes it one of the best choices currently.

Habib Yousfi also noted that Algeria currently needs more Chinese experiences , not only in the economic field but beyond different areas, such as education, health, training and sponsoring and marine technologies, which highlighted the great development of China.

Regarding the General Confederation of the Algerian Enterprises, Yousfi said that “the Confederation is always open for investments Avenue, and has all the requirements to do investment agreements with their counterparts from the sister state of China,” because it is considered that China’s investment in Algeria as an example to follow, and on the peace over 15 years, the record of which China and Algeria agreements and large-scale projects by the greatness of nations, he said “it’s time to take a step further to establish strong and long term partnerships which depends on the parties,” where on the latest amendments to the Algerian investment arena is now able due to the provision necessary to invest in Algeria.

In another interview with Saida Neghza, Algerian business lady and newly elected president of the GCEA, Neghza stated that for investment diversification in Algeria and also different natural resources, “Algeria can accomplish projects such as the production of vehicles and machines and other products, and is the thing that will offer a large marketing.”

 

 

The quality and diversity of Chinese products has always been a substitute in the Algerian market, private and economic pressure resulting from other foreign companies that do not take into account the living standards of the citizens of African countries and Algerians. One example of this is Mohiuddin Tahkot, a well lnown businessman and owner of a company, who had a unique experience with a Chinese trader in the field of vehicles, which met with Chinese products desirability of many who found the quality and the right price, where he said, “the Chinese trader has products that take into account the ability of the citizen,” which he sees as an example of a strong strategic and intellectual economic dimension to this great country.

The Confederation is now strengthening the exchange and partnership between the Algerian economic operators and their counterparts from the state of China, and through the planning of the meetings and forum, will in future bring together the two sides to study ways to accomplish a variety of agreements.

It is time for a new era, proving the depth of fine and creative words from Chinese President Xi Jinping at the Summit of China-Africa Cooperation, which is established by the high-end relationship between China and Africa.

 

 

 

 

 

 

Adel Soualah

Adel Soualah is a freelance Journalist, Videographer and Writer from Algeria.

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