Chairmans CornerTue Jun 20, 2006
China Nurtures Strategic Interests in Africa
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Dear Friends,
China has long been a friend of Tanzania having partnered on many projects from presently constructing a 90,000 seat stadium in Dar es Salaam to building the entire Tanzanian railroad.
I have long held the opinion that the market for Tanzania's minerals and farm products lies across the Indian Ocean, namely in China and India.
It is quite encouraging that almost every foot of Tanzanian shoreline has been taken up by major international oil companies for gas and oil exploration. The Songo-Songo gas field has given them significant encouragement for this large undertaking.
This June 20 article from the front page of the Financial Times appears to confirm my belief.
Respectfully,
Jim Sinclair
Wen woos seven African nations in quest for oil
By David White
Published: Last updated: June 20 2006 02:58
Whether it should be called a long march or a safari, China's leaders are all bending their steps towards Africa.
The seven-country tour of Africa by Wen Jiabao, the Chinese premier, marks the third visit to the continent by a senior Chinese leader this year and demonstrates the extent of China's surging demand for the continent's natural resources.
Mr Wen is due in Angola on Tuesday, now second only to Saudi Arabia as a source of imported oil for China's energy-hungry economy.
The unprecedented flurry of diplomatic activity began in January with a tour by Li Zhaoxing, foreign minister, and was followed in April by a high-profile trip by President Hu Jintao to Morocco, Nigeria and Kenya.
Between them, the three men will have visited 15 African countries in six months, highlighting China's quest for oil and raw materials.
Although China pursued a political agenda in Africa in the 1960s and 1970s, when it supported rebel movements in competition with the Soviet Union, it paid scant interest to the continent in the intervening years. Visits by top leaders were few and far between -- until now.
Two-way trade between China and Africa soared by 35 per cent last year to $39.7bn, according to official Chinese statistics, a fourfold increase since 2001. China has overtaken Britain to become Africa's biggest commercial partner behind the US and France, in the most sudden change to the continent's international trading patterns since the end of the colonial era.
As part of the bargain for securing energy and mineral supplies, the Chinese have offered much-needed technical assistance for African governments. Chinese companies are estimated to be involved in 900 investment projects on the continent.