We‘re open for trade - Chinese government declares

The spokesperson for the National People’s Congress of the People’s Republic of China, Zhang Yuesi, has said China is open for international trade with any country that desires to do business.

He cited the One belt, One Road (OBOR) project as one of the initiatives which has the potential of creating enormous business opportunities throughout Asia, Africa and Europe.

In 2013, China’s President, Xi Jinping, proposed the establishment of a network of trade routes that will link China to the rest of the world, creating a network of railways, roads, pipelines, and utility grids.

Speaking to Journalists at the First Session of the 13th National People’s Congress in Beijing, Mr. Zhang said though the Chinese government is open to trade, it will not copy any country’s model of development neither will it force its model on any country.

However, he said the country is willing to share it development experience and strategies with any country which will approach them.

He said the government of China will not exclude any country from these economic development project.

“It is a proposal for an economic activity that will ensure a win-win development and a shared economic prospect for countries involved. China seeks to take the interest of all parties into account so as to generate mutual benefits,” Zhang Yuesi added.

In 2014, China established the US$40 billion Silk Road Fund to finance these initiatives, and it has made investments in several key projects.

These projects are just the start as OBOR enters a new stage of detailed and comprehensive development. This work is expected to see the development of six major economic corridors which includes the New Eurasian Land Bridge, China-Mongolia- Russia, China-Central Asia-Western Asia, Indo-China Peninsula, China-Pakistan and Bangladesh-China

Ghana and China have enjoyed a long-standing diplomatic relations over the past decades. President Nana Addo Dankwa Akufo-Addo’s administration is seeking to partner Chinese investors to exploit bauxite deposits at Nyinam and Kibi with a potential value of US$460 billion, to fund the construction of thousands of kilometres of railway lines, roads, irrigation facilities and dams among others.

Ghana’s export to China hit US$1.4 billion, a historical high. Last year, China was the leading source of investments in the country.

The Ghana Investment Promotion Centre (GIPC) recorded 25 Chinese projects to be executed in various parts of the country. India and the United Kingdom followed with 19 and 13 projects respectively.

In Ghana, Chinese investments span airlines, extractives and energy sectors among others.