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Last updated at: (Beijing Time) Sunday, April 28, 2002

Cote d'Ivoire Leader Welcomes More Investment from China

Visiting President Laurent Gbagbo of Cote d'Ivoire Thursday in Beijing called on more Chinese entrepreneurs to invest in his country.


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Visiting President Laurent Gbagbo of Cote d'Ivoire Thursday in Beijing called on more Chinese entrepreneurs to invest in his country.

At a China-Cote d'Ivoire business symposium, Gbagbo said bilateral relations have been continuously developing in recent years. "The two sides have cooperated well in the fields of telecommunication, steel and machinery."

Gbagbo noted that his government is now trying to improve the investment environment by reforming judicial systems, making the market more transparent and modernizing tax institutions.

He believes that the Cote d'Ivoire's outstanding geographic conditions, well-equipped infrastructure and complete industrial foundation will attract more Chinese investment in mining, oil and natural gas, road construction as well as in textile industry.

Yu Xiaosong, president of the China Council for the Promotion of International Trade, said the two countries have had sound political and economic relations since the establishment of diplomatic relations.

Yu said in 1984 and 1996, the two governments signed trade agreements and businesses from the two countries cooperated widely in the automobile, machinery, pharmaceutical, food and oil drilling industries.

"Economic and trade cooperation between the two countries has wide prospects with a huge potential," he said.

Chinese figures show that in 2001, bilateral trade reached 270 million U.S. dollars, up 15.4 percent from 2000.


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