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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 Johnston Sirleaf to sign several agreements opening the way for increased Chinese investment. 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, President Ellen Johnson Sirleaf, is no pushover. 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.