The United Nations Industrial Development Organization (UNIDO) will work together with two influential institutions, the China Council for Promotion of International Trade (CCPIT) and the China-Africa Development Fund (CAD Fund), to jointly promote inclusive and sustainable socio-economic and industrial development in Africa.
Under an agreement signed today in Johannesburg, UNIDO and CCPIT have committed to jointly enhance inter-institutional cooperation and exchanges, create trading and investment opportunities for developing countries, and promote the economic development and industrialization process in developing countries for the purpose of improving economic competitiveness and increasing productive employment.
The agreement was signed by UNIDO Director General, LI Yong, who is taking part in the sixth Ministerial Meeting and the Johannesburg Summit of the Forum China-Africa Cooperation (FOCAC) <focac.org/eng> .
UNIDO and CCPIT will conduct market research on developing countries to provide information on investment environment and policies, and UNIDO will assist CCPIT in arranging the visits of Chinese experts to Africa to promote China’s experience in the construction of its industrial parks.
CCPIT will also facilitate the participation of Chinese enterprises in the construction of industrial parks in Ethiopia and Senegal, the two countries where UNIDO’s new Programme for Country Partnership is currently being piloted.
The two parties agreed to jointly organize trade and investment promotion activities in developing countries to strengthen trade and economic cooperation between Chinese and foreign enterprises, and enhance development for the achievement of the Sustainable Development Goals.
A separate memorandum of understanding was signed between the CAD Fund and UNIDO. The parties agreed to initiate their cooperation in the following areas: promotion of industrial zones in Africa, railways, roads, airports, seaports, manufacturing, and agriculture and agro-business; as well as food safety and quality infrastructure development; sustainable small and medium enterprises (SMEs); investment and technology, infrastructure development and private sector development. They will also focus on building partnerships for South-South and triangular cooperation.
The CAD Fund is a Chinese private equity fund, which is financed by the China Development Bank, and the first Chinese professional institution focusing on investments in Africa. The CAD Fund aims to stimulate Chinese companies’ investment in Africa in the areas of power generation, transportation infrastructure, natural resources, manufacturing and other sectors.
Source: United Nations Information Service Vienna (UNIS)