China and France to conquer African markets through strategic alliance

(Agence Ecofin) - China and France signed a declaration on 30 June on third markets partnerships where both countries made the commitment to work together to win over markets in Africa and Asia, a major turning point in the globalisation program of Chinese companies.  

"The statement on French-Chinese partnerships in third markets" was countersigned in Paris during a 3-day visit in France by the Chinese Premier.

According to the terms of this agreement regarded as "historic" by the French prime minister, the two countries are set to work together on projects in infrastructures and energy, and to introduce "new formulas for joint ventures, co-production and co-financing" which will target "in priority Asia and Africa". The Chinese Premier, Li Keying, lauded this alliance "for the common good".

"Let us work together to advance infrastructure, industrialization and reduce poverty. This will serve the general interest", Mr Li declared on 1st July in a speech given to the Organisation for Economic Cooperation and Development (OECD) in Paris.

"This will help emerging countries to gradually progress toward prosperity and help China find markets for its production capacities".

In other words, China wishes to benefit from the expertise of French groups in their markets of operation, especially in Africa where they are well established.

The high-security biological laboratory P4, inaugurated in January by Manuel Valls in Wuhan, central China, is a symbol of the greater cooperation between France and China in Africa. Thanks to technology transfers from France, the laboratory opened and will process amongst other things medical treatments for infectious African diseases such as Ebola. Some leading French groups, like Total or Areva, already work in Africa with Chinese partners.

In Paris, the Chinese prime minister also stressed Peking's desire to partner with other Western countries in order to boost growth in emerging countries, which represent "an gigantic market". An unprecedented development.