Tanzania hosts China-Africa business forum

Tanzania is to host the first China - Africa Business Forum for three days, beginning December 1, this year. The meeting will bring together some 300 participants in Dar es Salaam, according to the Planning, Economy and Empowerment Minister, Dr. Juma Ngasongwa.

Dr. Ngasongwa told reporters in Dar es Salaam yesterday that of the 300 participants, some 150 would be business people from China and the rest from some 19 African Continent countries.

``The main aim of the forum is to open up more investment avenues and strengthen the bilateral relations with China and other African countries,`` Dr. Ngasongwa said.

He said China had showed an interest in investing in different sectors including education, gas, minerals, electricity, water, oil and agriculture.

``In agriculture, China wants to invest in cassava, maize and sugarcane cultivation for the production of ethanol and bio-fuel,`` Dr Ngasongwa said.

The Minister called for local businessmen and women to make sure that they grab the opportunity ahead of the coming business forum.

He said in order to ensure that the forum succeeds, a China-Africa Business Council (CABC) was launched in June this year.

``The council is meant to foster investment and increase cooperation among the business partners,`` the minister said.

The forum will also be used as a link to help business people within friendly countries to secure funding from China Africa Development Fund (CADFUND), which was established in March 2007. The main aim of the fund was to assist small and medium-scale investors.

Dr. Ngasongwa said China had requested the government to provide them with the list of areas and projects where they can invest, because they have a great interest in investing in Tanzania.

The list will help compare the projects available with those existing in China.

The Minister said they were preparing themselves for the meeting whereby a special committee has been selected to handle issues related to the forum.