July 9, 2021
——Speech by H.E. Chinese Ambassador Hu Zhangliang at the China-Sierra Leone Trade and Investment Symposium
Hon. Minister of Foreign Affairs and International Cooperation Professor David Francis ;
Hon. Deputy Minister of Foreign Affairs and International Cooperation;
Distinguished senior officials of the Ministry of Foreign Affairs and International Cooperation and other government Ministries;
Chinese Companies Executives;
Colleagues of the Chinese Embassy;
Dear friends, ladies and gentlemen,
Good morning! It’s my great pleasure to attend today’s Symposium jointly organized by the Chinese Embassy in Sierra Leone and the Ministry of Foreign Affairs and International Cooperation. First of all, please allow me to thank Hon. Minister of Foreign Affairs and International Cooperation Professor David Francis for his innovative thinking and precious support which makes today’s symposium a reality. And I should also thank Honorable Minister for your comprehensive, inspirational and encouraging speech. My gratitude also goes to all of you present here at this virtual event.
Today’s symposium is held against two major backgrounds: the 50th anniversary of the establishment of China-Sierra Leone diplomatic relations and the Covid-19 pandemic. Since the establishment of diplomatic ties in 1971, China and Sierra Leone have always been genuine friends that enjoy mutual understanding, mutual respect, mutual trust and mutual support. Over the past 50 years, economic and trade cooperation has always been an important part of and a strong driving force for the development of our bilateral relations. Over the past one year or so, the Covid-19 pandemic has ravaged the world and severely affected all countries including China and Sierra Leone. Like all other countries, China and Sierra Leone face the arduous task of fighting the pandemic, stabilizing the economy, and ensuring people’s livelihood.
Today, we hold this symposium to review the achievements of our trade and investment cooperation, explore new opportunities, discuss ways of overcoming challenges, and promote the alignment of this cooperation with Sierra Leone’s development diplomacy and the National Medium-term Development Plan. This is an event of great importance.
Hon. Minister, Ladies and gentlemen,
In recent years, protectionism has been on the rise in certain parts of the world, the world economy has been in the doldrums, the global market has been shrinking, and the COVID-19 pandemic has intensified the inward-looking trend of some countries. In a situation where global trade and investment cooperation encounters headwinds, China has actively upheld true multilateralism, unswervingly pursued a win-win strategy of opening up, worked earnestly for the building of a community with a shared future for mankind, and actively promoted the Belt and Road cooperation.
Last year, China took the lead in bringing the pandemic under control and resuming work and production in the world through tremendously hard efforts and China was the only major economy that achieved positive economic growth. In 2020, China’s GDP reached about 14.7 trillion US$, accounting for 17% of the global economy. The total value of China’s imports and exports in goods reached a record high of about 5 trillion U.S. dollars, an increase of 1.9% over 2019.China’s outward foreign direct investment amounted to 133 billion US$, a year-on-year increase of 3.3%. China’s foreign trade and investment has injected strong impetus into the recovery of the world economy.
In light of the new situation, China is actively building a new development pattern in which the domestic cycle is the mainstay and the domestic and international cycles reinforce each other. It is meant to cultivate new advantages for China to participate in international cooperation and competition under the new circumstances.
Strengthening friendly and mutually beneficial cooperation with African countries has always been the cornerstone of China’s foreign policy. H.E. President Xi Jinping has put forward the principles of sincerity, practical results, affinity and good faith in developing China’s relations with African countries, and advocated for upholding justice while pursuing shared interests in China-Africa Cooperation. Early this year, during his visit to Africa, H.E. Wang Yi, the State Councilor and Foreign Minister of China made it clear that China firmly supports Africa’s efforts to accelerate economic recovery and upgrade China-Africa cooperation.
Over the past decades, especially since the founding of FOCAC in 2000, China-Africa mutually beneficial cooperation has made remarkable progress. China helped Africa build over 6000 kilometers of railways, 6000 kilometers of roads, nearly 20 ports and more than 80 large power facilities. China-Africa trade volume exceeded 200 billion U.S. dollars in 2019. China’s stock of direct investment in Africa reached 52.7 billion US$ in 2020. China is working with Africa to expand cooperation in digital economy, smart cities, clean energy, and 5G, and is promoting the high-quality development of the Belt and Road Projects. All these have brought significant changes to Africa’s economic and social development.
Over the past 50 years, fruits of China-Sierra Leone cooperation can be seen everywhere, from the Youyi Building, the National Stadium, the China-Sierra Leone Friendship Hospital, the Friendship Highway, to the Office Building of the Ministry of Foreign Affairs, the National Fibre Backbone Network Phase 1 and 2, the newly started Sierra Leone Foreign Service Academy, and the newly completed 3.2-kilometer Ring Road in Freetown etc.. Numerous tangible projects have been witnesses to the ever-growing friendship between China and Sierra Leone.
In August 2018, H.E. President Xi Jinping held officials talks with H.E. President Julius Maada Bio in Beijing, when President Bio visited China and attended the FOCAC Beijing Summit. The two heads of state agreed to consolidate our bilateral friendship and mutual trust, expand bilateral pragmatic cooperation, push forward China-Sierra Leone comprehensive strategic cooperative partnership and bring more benefits to our two peoples.
Since 2018, the Chinese side has completed 16 government aid projects or programs for Sierra Leone with another 15 under implementation and some others in discussion. In May this year, H.E. President Xi Jinping held a telephone conversation with H.E. President Julius Maada Bio, during which the two heads of state reached new and important consensus on the development of China-Sierra Leone relations, setting the direction for the next step of cooperation between our two countries.
The Chinese Embassy in Sierra Leone has been working closely with the Sierra Leonean side, particularly the Ministry of Foreign Affairs and International Cooperation and all sectors of the society to enhance cooperation in various fields. The total trade volume between China and Sierra Leone in 2020 was $530 million, up by 4.4% year on year. From January to May this year, the combined bilateral trade volume is approximately $287 million, an increase of 63%over the same period in 2020. Chinese companies have invested in infrastructure, agriculture, fisheries, tourism and other industries in Sierra Leone. The total amount exceeds $3 billion. Chinese investment has created about 5,000 direct jobs for the local people, and has made important contributions to Sierra Leone’s social economic development.
The achievements of China-Sierra Leone economic and trade cooperation are the result of the hard work of the companies and people of our two countries, as well as the strong support of the successive governments of Sierra Leone (now the New Direction Government under the leadership of H.E. President Julius Maada Bio). The Chinese side is highly appreciative of this and sincerely wishes that this cooperation will continue to reach new highs.
Hon. Minister, Ladies and gentlemen,
Standing at the new starting point of the 50th anniversary of the establishment of diplomatic relations between our two countries, I see great potential for deepening trade and investment cooperation between China and Sierra Leone. Sierra Leone is rich in natural resources. Under the strong leadership of H.E. President Julius Maada Bio, the government of Sierra Leone is committed to realizing the mid-term national development plan and has embarked on Development Diplomacy, both of which set the promotion of trade and investment cooperation as a major task.
Here, I would like to take this opportunity to share with you some of my views on promoting China-Sierra Leone trade and investment cooperation based on China’s own development experiences and the history of China-Africa cooperation:
First, the important role of trade and investment cooperation in promoting national development and people’s livelihood should be fully recognized. The core of China’s more than 40 years of reform and opening up is to attract foreign investment and develop foreign trade. This was a key move that changed China’s destiny. Reform and opening up have enabled China to achieve a great leap from standing up to becoming rich. Over the past 40-plus years since reform and opening up, China has attracted more than US $2 trillion of foreign investment, and its total foreign trade has grown from 35.5 billion yuan in 1978 to 32.16 trillion yuan in 2020, a 906-fold increase. The Chinese government has provided every possible convenience and guarantee for foreign investment and provided every support in line with international practice for promoting foreign trade.
At present, the government of Sierra Leone has also taken attracting investment and expanding foreign trade as one of the main driving forces for economic development, and has set up the Investment Board to coordinate relevant matters. This is a wise and correct approach. I believe that the government of Sierra Leone and all sectors of the society will introduce more pro-business policies and measures, so that foreign businesspersons can come heartily, work here pleasantly and leave the country comfortably, thus realizing a win-win situation which allows businesspersons to make a fortune and the country to achieve development.
Second, our two sides should actively seize the important opportunities in trade and investment cooperation. China has a population of 1.4 billion and a middle-income group of more than 400 million. It is the world’s most promising large market. It is estimated that China’s cumulative import of goods is expected to exceed US $22 trillion in the next 10 years. The current 100 billion US dollars of outbound FDI by China per year may keep its momentum. China is continuing holding the International Import Expo and the China-Africa Economic and Trade Expo, and actively carrying out the Belt and Road cooperation for common development. All these will provide huge opportunities for China-Africa and China-Sierra Leone trade and investment cooperation.
China’s policy towards Africa is transparent and has been proven by history and practice to be sound. What China seeks in its cooperation with Africa is mutual benefit and common development, rather than exploitation, oppression or extortion. The Chinese government and people have the political and social goodwill to expand cooperation with Africa, and also have the economic, technological and financial strength to do it. Where the investment environment is good, there the investors will go. China welcomes Sierra Leone to actively embrace and make full use of these opportunities. At the same time, China will continue to encourage competent and credible Chinese companies to expand cooperation with Sierra Leone.
Third, our two sides should jointly create more favorable conditions for the development of bilateral trade and investment cooperation. China welcomes Sierra Leone to advertise its trade and investment opportunities and stands ready to facilitate such endeavors. We hope that when conducting cooperation, the two sides will follow the market rules, respect the rule of law, discuss terms and models of cooperation in a sincere, friendly and open manner. We wish that both sides will concentrate on pragmatic, efficient, clean and fair cooperation and avoid misunderstandings, disputes or hidden risks. We hope that our two sides will earnestly implement the agreements on promoting trade and investment cooperation and other official documents signed by our two governments so as to lay a solid institutional foundation for enhanced cooperation. We encourage the Chinese companies to share their success stories with new or potential Chinese investors, and play a good role as people’s envoys of friendship while seeking legitimate investment interests. We also hope that the MDAs of the Sierra Leonean government will continue to ensure the security and safety of the Chinese investors and their investment, handle possible disputes and problems timely, fairly and properly, create an enabling environment for the healthy, smooth and sustainable development of such cooperation.
Let us not be confused by those irresponsible remarks that undermine China-Africa cooperation and China-Sierra Leone cooperation, not be distracted by some isolated events and not to be disrupted by extremist thinking, prejudices, lies, irrational individual demands, or shortsightedness. Let’s address whatever problems that might erupt in the course of cooperation in a friendly, rational, peaceful and legal way, rather than simply deny or even overturn cooperation while encountering problems. The Chinese government always requires the Chinese companies overseas to operate in accordance with the laws of the host country, respect local customs and traditions, and fulfill their social responsibilities. I am glad to see that the vast majority of the Chinese companies in Sierra Leone are doing very well. We should never accept the accusations of “neo-colonialism”, “illegal operation”, “racial discrimination” and “resource plundering” lashed out against Chinese companies and China-Sierra Leone Cooperation.
Hon. Minister, Ladies and gentlemen,
Over the past 50 years, we have achieved satisfactory results through commendable efforts from our both sides. Looking ahead, we have every reason and confidence to believe that China-Sierra Leone trade and investment cooperation and to a larger extent, China-Sierra Leone bilateral relationship enjoys a bright prospect. Let us continue to work hand in hand and create a better future.
I wish the China-Sierra Leone Trade and Investment Symposium a complete success!
Long live the Republic of Sierra Leone!
Long live the People’s Republic of China!
Long live the China-Sierra Leone cordial relationship!
Thank you!