Wednesday, January 10, 2018

Equatorial Guinea Strengthens Cooperation with China

The Republic of Equatorial Guinea strengthened areas of cooperation with the People’s Republic of China as a result of the recently held XIX National Congress of the Communist Party of China (CPC).

Equatorial Guinea and China enjoy close ties with strong bilateral economic and trade cooperation. The total volume of bilateral trade reached $1.030 billion in 2017, an increase of 87% from the previous year. New projects between the two countries were worth an estimated $913 million and direct non-financial investment was $31.18 million.

The Chinese Chamber of Commerce was established in Equatorial Guinea in October 2017 to strengthen cooperation between the two countries in line with the Horizon 2020 development plan, specifically focused on the sectors of industry, agriculture, tourism, and finance.

The addition of the Chamber also strengthens communication between Equatorial Guinea and China in regards to commercial investment and cultural exchange.

Equatorial Guinea and China have enjoyed strong bilateral ties for years. The Equatorial Guinea Democratic Party attended the World Dialogue of Political Parties in Beijing in December 2017. The two countries have areas of mutual cooperation including tourism, good governance, sustainable development, and trade.