China and the DRC set to sign a $6 Billion infrastructure-for-minerals agreement
Felix Tshisekedi, the President of the Democratic Republic of the Congo, is visiting China from today, May 24th, to May 29th. He is scheduled to meet with President Xi Jinping to discuss and sign a number of significant economic agreements.
The meeting will allow the two nations to formally revise and sign a $6 billion infrastructure-for-minerals agreement with Chinese investors. The Chinese foreign ministry confirmed the trip on Monday 22nd May.
The president informed the cabinet that a task committee reviewing the agreement had turned in its findings, allowing talks with Chinese partners to start soon.
The two presidents will meet while in China and take part in a ceremony to sign cooperation agreements jointly, according to the Chinese foreign ministry.
“The Democratic Republic of Congo is an important country in Africa, and the friendship between China and the Democratic Republic of Congo has a long history,” Chinese foreign ministry spokesperson Mao Ning said at a regular press briefing.
“Both sides have always supported each other on issues related to each other’s core interests and major concerns. In recent years, political mutual trust between China and the Democratic Republic of Congo has been continuously deepening, and practical cooperation has yielded fruitful results,” Mao added.
Tshisekedi will also meet Premier Li Qiang and Zhao Leji, chairman of the Standing Committee of the National People’s Congress of China.
In a recent meeting between Chinese State Councilor and Foreign Minister, Qin Gang, and Christophe Lutundula, the Democratic Republic of the Congo’s (DRC) vice prime minister and foreign minister, China expressed its willingness to collaborate with the DRC on fostering high-quality cooperation through the Belt and Road Initiative (BRI).
Notably, China holds the position of being the DRC’s biggest trading partner and key source of investment. It is worth highlighting that the DRC occupies a crucial role globally as the largest producer of cobalt, a vital material for batteries. Furthermore, the nation possesses substantial reserves of diamonds, gold, lithium, and tantalum.
DRC, according to Qin, is China’s close ally and brother. this upcoming meeting will formulate high-level plans and identify the strategic course for the advancement of bilateral ties in the future, according to Qin.
