Chinese president pledges solidarity with Africa amid financial crisis

Source: Xinhua | 02-17-2009 08:12

DAR ES SALAAM, Feb. 16 (Xinhua) -- Chinese President Hu Jintao on Monday called on China and Africa to strengthen solidarity and mutual assistance to jointly tide over the ongoing global financial storm.

"We know fully well the difficulties we face at home; we are also keenly aware of the difficulties faced by our African friends," Hu said in a key-note speech at a welcoming rally attended by people from various sectors in the Tanzanian capital.

The president pledged to "earnestly follow through" on the eight measures announced at the Beijing Summit of the Forum on China-Africa Cooperation in 2006, which include massive tariff cuts, debt exemptions, and doubling aid to Africa over a three-year period, among others.

"It is heartening to see that the implementation of these measures is well under way," he said.

China will continue to increase assistance to Africa and cut debts owed by African countries as its ability permits, he said.

China will expand trade and investment and strengthen practical cooperation with Africa, he said, noting that the two-way trade exceeded 100 billion U.S. dollars last year for the very first time.

The Chinese government encourages and supports the efforts of more established Chinese companies to invest in Africa, create more jobs for the local people and transfer more technologies to their African partners, Hu said.