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Business News of Friday, 31 October 2008

Source: GNA

China sets aside fund to support participation in expo

Koforidua, Oct 31, GNA - The Chinese government has set aside a 100 million-dollar fund to support developing countries including Ghana to participate in the 2010 world expo in Shangai, China.

The fund is to support the counties in the areas of preparation, setting up structures and logistics to participate in the expo. The Chinese Ambassador in Ghana, Mr Yu Wenzhe, said this at the national launch of Ghana's participation in the world expo in Koforidua.

He said the Chinese government was providing a 324 square-meter floor space to Ghana free of charge to demonstrate the Ghanaian culture and achievements during the expo. There would be over 200 countries and international organizations to participate in the expo under the theme "Better Cities Better Life". He said the expo, which is expected to attract 70 million visitors, would be a platform to exhibit economic, scientific, social and cultural achievements for visitors to "imagine the prospect of future life". The ambassador said the Chinese government attached importance to the expo following its successful hosting of the Beijing Olympic Games and had promoted the expo in 90 cities in China and six countries and assured that China was ready to provide Ghana with other support within its ability to ensure its participation.

The Deputy Minister of Trade, Industry, Private Sector Development and PSI, Mrs Gifty Ohene-Konadu, said the expo would display urban civilization by exchanging experien ces of urban development and explore new approaches to human habitat. Mrs Ohene Konadu said Ghana's challenge would be how to attract the world to its pavilion during the programme and called on the private sector to support government through their participation to sell Ghana to the world.

She said the economic benefits of the expo could not be over emphasized as well as lessons to be learnt as far as creating cities and urbanization was concerned. The Omanhene of the New Juaben Traditional area, Daasebre Oti Boateng who chaired the function, said reports had indicated that by 2015 about 50 percent of the people in the world would dwell in the urban areas.

He said the expo therefore is a good opportunity for Ghana to go and learn more about how China had managed its cities to be able to meet the challenges such as congestion and criminal activities due to pressure of urbanization.