African countries have not fully exploited the benefits that accrue from their ties with China, a development expert said on Friday.
Haggai Kanenga, lecturer and researcher in the Department of Development Studies at the University of Zambia, said China offers immense opportunities in terms of boosting African economies through trade and investment but lamented that this has not been fully exploited.
He cited the failure by African countries to attract a large share of investment by Chinese firms that were being encouraged to invest overseas as one example of failure to maximize benefits.
“China is encouraging its companies to go global, to invest elsewhere in order to offload excess capacity. African countries are not doing much to attract as much investment the Chinese firms are offering,” he told Xinhua in an interview.
According to him, African countries should emulate Asian countries that have benefited greatly from the Chinese firms’ investment overseas, adding that only Ethiopia and South Africa have managed to tap into the Chinese potential.
He further said African countries have not fully exploited the market potential offered by the Chinese for various products.
The experts noted that there was a need for African countries to take advantage of the duty-free access offered by China by exporting more to the Asian nation.
He added that China has so far proved to be a worthy friend of African countries despite the smear campaign by the western countries, adding that Africans must grasp with both hands the brotherly gesture offered by China.
Meanwhile, the expert said the COVID-19 pandemic has not affected the cooperation between China and Africa but has since strengthened it.
He said China has sprung to the aid of African countries affected by the pandemic through the donation of medical supplies as well as technical support. Enditem