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HomeBreaking NewsDRC-CHINA DEAL: Tshisekedi Heads To China For $6 Billion

DRC-CHINA DEAL: Tshisekedi Heads To China For $6 Billion

  • President of the Democratic Republic of Congo, Felix Tshisekedi, is to embark on a visit to China from May 24 to May 29, aiming to sign significant economic agreements.
  • China and Congo are set to revise and finalize a $6 billion infrastructure-for-minerals agreement, reinforcing bilateral ties and cooperation.
  • High-level meetings were scheduled between President Tshisekedi and Chinese leaders to discuss cooperation, including discussions on the Belt and Road Initiative and strengthening trade relations.

Felix Tshisekedi, the president of the Democratic Republic of the Congo, will go to China from May 24 to May 29 and is scheduled to meet with President Xi Jinping to discuss and sign a number of significant economic agreements.

A meeting would allow the two nations to formally revise and sign a $6 billion infrastructure-for-minerals agreement with Chinese investors. The Chinese foreign ministry confirmed the trip on Monday. The president informed the cabinet that a task committee reviewing the agreement had turned in its findings, allowing talks with Chinese partners to start soon.

The two presidents will meet while in China and take part in a ceremony to sign cooperation agreements jointly, according to the Chinese foreign ministry.

“The Democratic Republic of Congo is an important country in Africa, and the friendship between China and the Democratic Republic of Congo has a long history,” Chinese foreign ministry spokesperson Mao Ning said at a regular press briefing.

“Both sides have always supported each other on issues related to each other’s core interests and major concerns. In recent years, political mutual trust between China and the Democratic Republic of Congo has been continuously deepening, and practical cooperation has yielded fruitful results,” Mao added.

Tshisekedi will also meet Premier Li Qiang and Zhao Leji, chairman of the Standing Committee of the National People’s Congress of China.

Additionally, China is willing to work with the Democratic Republic of the Congo (DRC) to advance high-quality cooperation through the Belt and Road Initiative (BRI), according to Qin Gang, the Chinese State Councilor and Foreign Minister, who met with Christophe Lutundula, the DRC’s vice prime minister and foreign minister, on Monday. China is the DRC’s largest trading partner and source of investment, and The DRC is the world’s largest producer of battery material cobalt. It also has significant deposits of diamonds, gold, lithium, and tantalum.

DRC, according to Qin, is China’s close ally and brother. this upcoming meeting will formulate high-level plans and identify the strategic course for the advancement of bilateral ties in the future, according to Qin.

CREDIT: Business Insider

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