Chinese businesses ready to push for Africa investment

JOHANNESBURG - Chinese businesses will use the BRICS Business Council to push for more investment in Africa, so as to help the continent eradicate unemployment and poverty, a Chinese business leader said here on Tuesday.

China and Africa have maintained "good business relations" and China will use the council to advance more investments in Africa, Zehua Ma, acting chairperson of the council, said at the council's first conference in Johannesburg.

"China and Africa need each other. Our economies compliment each other," Ma said.

To help Africa eradicate poverty and unemployment is core to China, he added.

"We have come to this meeting with 30 business delegates representing Chinese businesses. This is a clear indication that China is ready to work with our counterparts to help reduce Africa problems such as unemployment," Zehua told the conference.

The two-day conference brought together business leaders from the five BRICS member countries -- Brazil, Russia, India, China and South Africa -- to discuss how to promote cooperation, with special focus on Africa.

Issues featuring high on the agenda include investment opportunities, value-added trade, infrastructure, African industrialization and the proposed BRICS Development Bank.

"We as China business community believe in Africa. Africa can provide favorable conditions for BRICS," Zehua said.

The BRICS Business Council was established at the fifth BRICS summit in Durban in March this year, with a mandate to promote business, trade, manufacturing and investment ties among the five member countries on the one hand, and the bloc and African countries on the other.

Zehua said Beijing will "continue to honor its pledges" to support Africa's economic growth and development.

"To us the business council is there to help Africa deal with unemployment" and ?create new opportunities for Africa growth, he added.

According to Ma, ?China has more than 2,000 business people in 15 African nations.

China will continue to honor its pledges to support Africa economic growth by investing in all sectors of the economy, particularly infrastructure, which is key to inter-trade and national development, he said.

Ma also urged other BRICS members to increase investments in the African infrastructure infrastructure has really potential to give BRICS conditions and more opportunities to do business in Africa."

"We need to invest in Africa infrastructure for the continent to be attractive for more investment. Investing in infrastructure can also help in levelling the playing ground for doing business in Africa," Ma said.

He also called on BRICS nations to sign long-term contracts with Africa businesses.