Public Management

Patrice Talon Secures Chinese Investment on Beijing Visit

Patrice Talon Secures Chinese Investment on Beijing Visit
Tuesday, 05 September 2023 19:41

The President of Benin Republic, Patrice Talon (pictured, left) brought back home thirteen deals signed with the Chinese government during his visit to Beijing. The partnerships seek to accelerate Chinese cooperation and investment mainly in healthcare, infrastructures, digital economy, and agriculture.

In detail, four agreements were signed between Romuald Wadagni, Benin's Minister of State for the Economy, Finance and Cooperation, and Zheng Shanjie, head of China's National Development Commission. They include a three-year cooperation plan for 2023-2026, a letter of intent focusing on the "Belt and Road" initiative, and memorandums relating to grain management and economic development.

Wang Wentao, China's Minister of Commerce, also signed three other agreements with the Beninese Minister on the creation of a group dedicated to investment and cooperation, as well as the expansion of investment in green development and the digital economy. Two other deals were reached with Zhao Fengtao, Vice-President of the China International Development Cooperation Agency. They concern technical cooperation and the implementation of the Global Development Initiative.

Additionally, four other agreements were reached between the Beninese Foreign Minister Shegun Bakari and FU Hua, President of XINHUA News Agency, to promote communication in the health sector. Another deal concerns the export of Beninese pineapples to China.

"China agrees to open its doors to more Beninese products. It will also encourage Chinese investment in Benin as part of a co-investment platform dedicated to the construction of infrastructure in the fields of roads, electricity, communications technology, and textile production. Beijing will also work to deepen mutually beneficial cooperation in the agriculture, forestry, and fisheries sectors, as well as in technical and vocational training to support Benin's industrialization process,” reads a joint statement issued at the end of Patrice Talon's four-day state visit.

Both partners have announced they have upgraded their bilateral ties to a "strategic partnership." Trade between the two countries is estimated at $1.95 billion in 2022, representing a 33.7% increase over 2021, according to the Chinese Embassy in Benin.

As a reminder, China has financed several infrastructure projects in Benin, including the Stade de l'Amitié, the Cotton Road, the Godomey interchange, and the Glo-Djigbé airport.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Biovac, the South African biopharmaceutical company that supplies 80% of the country's routine childhood vaccines, secured more than $175 million in...
Côte d’Ivoire establishes sovereign fund to manage public assets Fund to finance infrastructure, stabilize economy, build long-term...
Evidence shows mobile money taxes reduce usage and revenue Most countries exceed the 0.2% threshold that triggers cash fallback Policies...
CAR minister meets COBAC on FNGI operational rollout Talks seek framework, technical support, compliance with regional rules $18M fund...
Most Read
01

Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...

Algeria Opens Satellite Market to Competition, Inviting Global Operators
02

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
03

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
04

Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...

Nigeria, Nestlé partner to strengthen dairy sector skills
05

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.