Gabon president welcomes more Chinese investment, trade event told

The event gathered more than 300 participants from both countries, and Bongo, who is on an official visit to China, said "Gabon welcomes Chinese investments from all sectors including agriculture, tourism, manufacturing, and the banking industry."

China is Gabon's largest trading partner and an important investment source. Last year saw bilateral trade reaching $1.77 billion while the African country has a trade surplus of $430 million, 41 years after the countries established diplomatic ties, the Foreign Ministry's website said.

Gabon will be more committed to exporting processed products during the country's domestic economic transition when a number of Chinese enterprises have already provided technical and funding support to Gabon, he added.

Calling for more Chinese investors, the president said Gabon has established two special economic zones exclusively for Chinese enterprises. "We will try our best to help Chinese companies develop businesses in Gabon and even the whole of Central Africa", the president said.

Bongo highlighted the significance of economic structures and strategic transformation in bilateral cooperation to boost friendly relations between the two countries.

Six ministers in charge of Gabon's economic, trade, tourism, and industrial departments also delivered speeches at the event, saying the two countries could exploit the potential for cooperation in areas such as timber, optical fibers and infrastructure. They also said political and social stability in Gabon creates a favorable environment for Chinese investment, benefiting production and distribution in Central and sub-Saharan Africa.

The ministers said bilateral cooperation could promote the proposal of Green Gabon, Service Gabon, and Industrial Gabon, three pillars proposed by Bongo in 2009 to diversify its economy.

Two-way cooperation continues to grow despite small challenges and problems and Gabon needs China to realize its goal to become one of the most developed economies in Africa.

Jiang Zengwei, chairman of the China Council for the Promotion of International Trade, said China's advanced facilities and industrial know-how could provide strong support to Gabon's industrialization.

"Enterprises in both countries should seize opportunities, bolstering cooperation in such fields as energy and infrastructure to further benefit both peoples," Jiang added.

Chu Yi contributed to the story.