Cooperation between China and Cabo Verde moves into new phase

4 June 2015

Cooperation between China and Cabo Verde (Cape Verde) has entered a new phase, “more focused on economic partnerships” than traditional development aid, the Minister of Tourism Investment and Business Development of Cabo Verde said Wednesday in Beijing.

Leonesa Fortes, who led the Cape Verdean delegation at the 2nd session of the Joint Commission for Economic Cooperation, Trade and Technology, held over two days in Beijing, told Portuguese news agency Lusa the meeting was “a milestone in the cooperation relationship.”

“We will now have cooperation that is more focused on economic and business development rather than on official development aid,” added the minister.

Amongst the partnerships planned during the meeting, the minister stressed the “possibility of Chinese companies investing in strategic sectors for the future of Cabo Verde,” particularly in the areas of renewable energy, the maritime economy (ports and shipyards, for example), civil aviation and tourism.

Another “priority project” that was discussed was “the creation of credit lines for small and medium enterprises” in Cabo Verde, she said.

In Beijing, as well as officials from the Ministry of Trade and from several Chinese state institutions, the Cape Verdean minister met with leaders of the China Development Bank and the China Export Import Bank, the main financiers of Chinese investment in Africa. (macauhub/CN/CV)