SHARM EL-SHEIKH, Egypt -(Dow Jones)- China's premier pledged Saturday to deepen trade ties with Africa, further open Chinese markets to African goods and accelerate aid to areas including agriculture and education.
"Our assistance is sincere and selfless with no political strings attached," said Chinese Premier Wen Jiabao, during the opening ceremony of the Forum On China African Cooperation, or FOCAC, held at the Egyptian Red Sea resort of Sharm El-Sheikh.
Wen comments came amid criticism that Beijing's no-strings-attached investments and loans undercut political and economic reform efforts by Western governments and bodies such as the World Bank.
Wen said China will "provide more interest-free, concessional loans and commercial loans and gradually expand the China-Africa development fund."
China's investment in Africa has grown sharply in recent years, from a low base, as Beijing catches up with Western companies already established on the African continent. Chinese investment in Africa reached $26 billion by the end of 2008, and trade between China and Africa hit $106.8 billion.
The premier also said China will increase the scale of trade and will provide greater market access to African products gradually. He added that it will extend zero-tariff treatment to the majority of African countries.
"We will continue to undertake major infrastructure projects," said Wen. "We will issue more funds to areas related to people's livelihood, including agriculture, education, health, poverty reduction and clean drinking water and help African countries attain the U.N. millennium development goals at an earlier date," he added.
FOCAC, which is held every three years, was first held in Beijing in 2000. Three years later, the meeting was held in Addis Ababa in Ethiopia, followed by a China-Africa Summit in 2006.
In 2006, China said it would take measures including canceling debts and lifting tariffs on some goods.
-By Shereen El Gazzar, contributing to Dow Jones Newswires, +20124298286, Shereen.elgazzar@gmail.com
(END) Dow Jones Newswires
November 07, 2009 16:58 ET (21:58 GMT)