A Fair Exchange
This year Equatorial Guinea and China celebrate 45 years of bilateral ties. The relationship is rooted in strong economic links.
More than 20 Chinese companies operate in Equatorial Guinea, with a huge involvement in construction and power projects. The China Dalian International and Technical Cooperation Group (CDIG) has built much of Equatorial Guinea’s government infrastructure in recent years, including the Premier’s Office Building, the main offices of the Ministry of Mines, Industry and Energy and the local headquarters of the United Nations.
China is a major supporter of Equatorial Guinea’s Horizon 2020 plan for industrialization and economic diversification and has been instrumental in the training of Equatoguinean nationals and the transfer of agriculture proficiency. The Chinese government has identified modernizing the agricultural and marine sectors and developing the coastal economy of Equatorial Guinea as important platforms for future cooperation.
More than 20 Chinese companies operate in Equatorial Guinea, with a huge involvement in construction and power projects.
The anniversary comes at a time when China is deepening its already sizeable commitment to Africa. In 2009, China surpassed the United States to become Africa’s largest trade partner. Today, trade exceeds $200 billion per year, as Chinese investments in Africa have become an important pillar of its natural resource acquisition strategy.
China’s engagement with Africa has always been about establishing structures of mutual benefit. The government recently pledged $20 billion in new loans to African nations for manufacturing, construction and agriculture.
As Equatorial Guinea strives to grow its infrastructure, attract investment capital and develop the talent of its nationals, new areas of cooperation with Chinese companies will be instrumental.