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Business News of Sunday, 5 November 2006

Source: GNA

China and 11 African countries sign 1.9 billion dollars agreement

From Kwaku Osei Bonsu, GNA Special Correspondent, Beijing-China

Beijing Nov. 5, GNA-- The second conference of Chinese and African Entrepreneurs held in Beijing on the sidelines of the China-Africa Heads of State summit has ended with the signing of 1.9 billion dollars agreements between 11 African countries, including Ghana and some Chinese Companies.

Besides, the two sides agreed on the establishment of the China-Africa Joint Chamber of Commerce and Industry, a development seen as significant for their new strategic trade and investment partnership. The agreements cover the operation of infrastructure facilities, communications, technology and equipment, energy and resources development, finance and insurance.

Egypt, Ethiopia, South Africa, Nigeria, Kenya, Zambia, Uganda, Seychelles, Losotho and Cape Verde are the other countries benefiting from the deal.

Nana Addo Dankwa Akufo-Addo, the Foreign Minister signed Ghana's agreement with the Chinese ZTE Corporation for the GOTA Security System Project, which aims at equipping the security agencies, including the Ghana National Fire Service with improved telecommunications.

Mr. Wan Jifei, Chairman of the China Council for Promotion of Commerce and Industry, described the outcome of the conference as substantial.

Chinese Vice-Premier Zeng Peiyan performed the closing ceremony of the conference.