China important partner for Rwanda and Africa’s Economic development

Yesterday, Rwanda and China celebrated years of close economic and trade partnership. China took the opportunity to showcase her many successful investment projects in the country, ranging from the first digital TV signal transmission technology in Africa, a project worth USD 29 million operating under, Star Africa Media Ltd Company. Another successful project is run by A-link Science and Technology Ltd Company, which has established in Rwanda a multi million mobile phone assembly business, under the brand “Alira”. In her remarks, Minister of Foreign Affairs, Rosemary Museminali, described China as a dependable ally on the multilateral fora, commending her for giving the poorest of the world, a diplomatic muscle – in the Non-Aligned Movement and G77. As the Chinese diplomats and Rwandan government officials in Kigali committed themselves to further strengthen ties, in trade and economic cooperation; Chinese government officials in Beijing, pledged to keep supporting Africa amidst threats of the global financial crisis hitting trade between Africa and China negatively. Chinese officials in Beijing pledged not to abandon Africa, instead presenting the possibility that China was likely to act as a buffer in the event that Africa loses trade privileges with western countries. As the global financial crisis takes its toll on the world’s most powerful and established economies, the real alternative for developing countries is in strengthening ties in the South-South Cooperation. Since the continued failure of the World Trade Organisation (WTO) to come up with a fresh round of trade arrangements that satisfy all partners, surely strengthening the South-South alliance becomes more urgent. The benefits are many; trade between China and Africa this year alone reached USD 74 billion. Ends

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China important partner for Rwanda and Africa’s Economic development