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China's leader heads to Liberia | China's leader heads to Liberia |
(about 4 hours later) | |
Chinese President Hu Jintao is heading to Liberia, as he continues his eight nation African visit. | Chinese President Hu Jintao is heading to Liberia, as he continues his eight nation African visit. |
Still recovering from war, Liberia has been singled out for special attention by China. | Still recovering from war, Liberia has been singled out for special attention by China. |
It stands to benefit from agreements in agriculture, education and health - but it also has resources on offer, such as iron ore, rubber and access to the sea. | It stands to benefit from agreements in agriculture, education and health - but it also has resources on offer, such as iron ore, rubber and access to the sea. |
Mr Hu has recently been in Cameroon, where he signed grants and loans worth around $100m. | Mr Hu has recently been in Cameroon, where he signed grants and loans worth around $100m. |
He will only have a few hours on the ground in Liberia, but that is enough time for Mr Hu and his host Ellen Johnson-Sirleaf to sign several agreements opening the way for increased Chinese investment. | |
The deputy minister of international co-operation, Commany Wesseh, says the setting up a special economic zone near the port of Buchanan is being discussed, which could create desperately needed jobs. | The deputy minister of international co-operation, Commany Wesseh, says the setting up a special economic zone near the port of Buchanan is being discussed, which could create desperately needed jobs. |
"We are hoping that about 1,000 industries will be set up in that special economic zone," he said. | "We are hoping that about 1,000 industries will be set up in that special economic zone," he said. |
"We're talking that within 10 years we will be employing between 50,000 to a 100,000 Liberians." | "We're talking that within 10 years we will be employing between 50,000 to a 100,000 Liberians." |
Oil exploration is another possible area for agreement. | Oil exploration is another possible area for agreement. |
But negotiating with Liberia's leader is no pushover. | |
She recently cancelled a deal the former government had made with the world's largest steel manufacturer, and then renegotiated it, ensuring that Liberians would gain more from its iron ore. | She recently cancelled a deal the former government had made with the world's largest steel manufacturer, and then renegotiated it, ensuring that Liberians would gain more from its iron ore. |
With support from the United Nations, President Sirleaf is considered to have made a good start as she tries to help Liberia recover from 14 years of war on very meagre resources. | With support from the United Nations, President Sirleaf is considered to have made a good start as she tries to help Liberia recover from 14 years of war on very meagre resources. |
Whilst he is in the country, President Hu is expected to formally sign away $15m worth of debt which Liberia owes. | Whilst he is in the country, President Hu is expected to formally sign away $15m worth of debt which Liberia owes. |
But that does not make much of a dent in the country's overall debt of around $3.5bn. | But that does not make much of a dent in the country's overall debt of around $3.5bn. |