U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
 
"If I think it's good for the country, if I think it's good for what will be certainly the largest trade deal ever made - which is a very important thing - what's good for national security - I would certainly intervene if I thought it was necessary," Trump said in a wide-ranging interview with Reuters in the Oval Office.
 
At the request of U.S. authorities, Huawei Technologies Co. executive Meng Wanzhou was arrested earlier this month in Vancouver on charges of violating U.S. sanctions against Iran. The arrest came the same day Trump and Chinese President Xi Jinping declared a 90-day truce in their trade war during summit talks in Buenos Aires.
 
Trump, who wants China to open up its markets to more American-made products and stop what Washington calls the theft of intellectual property, said he had not yet spoken to Xi about the case against Huawei's executive.
 
Meng, 46, faces U.S. accusations she misled multinational banks about Huawei's control of a company operating in Iran, putting the banks at risk of violating U.S. sanctions and incurring severe penalties, court documents said.
 
If extradited to the United States, Meng would face charges of conspiracy to defraud multiple financial institutions. A Canadian court on Tuesday granted bail Meng while she awaits an extradition hearing.
 
Trump, who has made sanctions on Iran over its nuclear program a signature part of his foreign policy, was asked whether Meng could be released.
 
"Well, it's possible that a lot of different things could happen. It's also possible it will be a part of negotiations. But we'll speak to the Justice Department, we'll speak to them, we'll get a lot of people involved," he said.
 
Asked if he would like to see Meng extradited to the United States, Trump said he wanted to first see what the Chinese request. He added, however, that Huawei's alleged practices are troubling.
 
"This has been a big problem that we've had in so many different ways with so many companies from China and from other places," he said.
 
In the wake of his meeting with Xi in Buenos Aires, Trump said during the interview that trade talks with Beijing were underway by telephone, with more meetings likely among U.S. and Chinese officials.
 
He said the Chinese government was once again buying large quantities of U.S. soybeans, a reversal after China in July imposed tariffs on U.S. supplies of the oilseed in retaliation for U.S. duties on Chinese goods.
 
"I just heard today that they're buying tremendous amounts of soybeans. They are starting, just starting now," Trump said.
 
Commodity traders in Chicago, however, said they have seen no evidence of a resumption of soybean purchases by China, which last year bought about 60 percent of U.S. soybean exports in deals valued at more than $12 billion.
 
 
Source: PmNews

A Chinese court has ordered a sales ban of some older Apple Inc iPhone models in China for violating two patents of chipmaker Qualcomm Inc, though intellectual property lawyers said enforcement of the ban was likely still a distant threat.

The case, brought by Qualcomm, is part of a global patent dispute between the two U.S. companies that includes dozens of lawsuits. It creates uncertainty over Apple's business in one of its biggest markets at a time when concerns over waning demand for new iPhones are battering its shares.

Apple said on Monday that all of its phone models remained on sale in mainland China and that it had filed a request for reconsideration with the court, the first step in a long appeal process that could end up at China's Supreme Court.

"It's incredibly unlikely, I'd say almost impossible (that Apple would have to stop sales)," said a Beijing-based IP lawyer who is not directly connected with the Qualcomm case but has worked with large U.S. tech firms.

"In all likelihood it will drag on for some time. It's worth keeping in mind that this is just one battle in a larger rift", he said, referring to the legal fight between Qualcomm and Apple that stretches from European courts to South Korea.

Qualcomm said in a statement the Fuzhou Intermediate People's Court in China found Apple infringed two patents held by the chipmaker and ordered an immediate ban on sales of older iPhone models, from the 6S through the X.

Apple said the trio of new models released in September were not part of the case.

"Qualcomm's effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world," Apple said.

Reuters couldn't immediately reach the court for comment.

China, Hong Kong and Taiwan are Apple's third-largest market, accounting for about one-fifth of Apple's $265.6 billion in sales in its most recent fiscal year.

Qualcomm, the biggest supplier of chips for mobile phones, filed its case in China in late 2017, arguing that Apple infringed patents on features related to resizing photographs and managing apps on a touch screen.

COURT BATTLE OVER DETAILS

In July, the same court banned the import of some microchips by Micron Technology Inc into China, citing violation of patents held by Taiwan's United Microelectronics Corp (UMC).

In the provincial Chinese court, which is separate from China's specialized intellectual property courts in Beijing, one party can request a ban on an opponent's product without the opponent getting a chance to present a defense.

IP lawyers said that an appeal process could take the case up to the Fujian provincial high court and then go as far as the Supreme Court in Beijing, a process that would likely take many months given the high-profile nature of the case. To enforce the ban, Qualcomm separately will have to file complaints in what is known as an enforcement tribunal, where Apple will also have a chance to appeal.

Yiqiang Li, a patent lawyer at Faegre Baker Daniels, said the Chinese injunction could put pressure on Apple to reach a global settlement with Qualcomm.

Apple shares rose less than 1 percent to $169.60, recovering from an early drop when it became clear phones were still on sale, and Qualcomm stock rose 2.2 percent to $57.24.

TRADE WAR IMPACT?

The ruling comes as Beijing and Washington are locked in a tense trade dispute. The two sides have agreed to trade negotiations that must be concluded by March 1. While IP lawyers said the case wasn't directly political, most agreed it could be drawn into broader Sino-U.S. trade tensions, where technology and IP have been a core focus.

The specific iPhone models affected by the preliminary ruling in China are the iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X. Erick Robinson, a patent lawyer in Beijing and former Qualcomm lawyer, said that while Chinese courts had become fairer in recent years, nationalism could sometimes be a factor in rulings.

Qualcomm is a key technology vendor to China's rising smart phone brands such as Xiaomi Corp, Oppo, Vivo and OnePlus, while Apple competes directly against Huawei Technologies Co Ltd [HWT.UL], China's top homegrown maker of premium-priced smartphones, whose CFO was arrested this month for allegedly violating U.S. sanctions.

"There is probably a political play here. Apple is a direct competitor to the biggest companies in China, whereas Qualcomm is a supplier," Robinson said.

Qualcomm officials said tensions between the two nations had no bearing on the ruling. The company has had its share of troubles in China, from an unfavorable 2014 antitrust ruling to regulatory limbo that doomed its $44 billion bid for Dutch chipmaker NXP Semiconductors.

 

China's Iranian oil imports are set to rebound in December after two state-owned refiners in the world's largest oil importer began using the nation's waiver from U.S. sanctions on Iran, according to industry sources and data on Refinitiv Eikon.
 
Sinopec resumed Iran oil imports shortly after Tehran's biggest crude buyer received its waiver in November, while China National Petroleum Corp (CNPC)will restart lifting from its own Iranian production in December, three sources with knowledge of the matter told Reuters.
 
Reuters reported in November that China's waiver on U.S. sanctions allows it to buy 360,000 barrels per day (bpd) of oil for 180 days.
 
Top Chinese energy group CNPC, which has invested billions of dollars in Iranian oilfields, is ready to load its full share of production from December, said an oil executive with direct knowledge of CNPC's Iran activities.
 
The executive, who asked not to be named, estimated CNPC will load at least two million barrels a month from December, doubling previous levels to help compensate for cuts made before sanctions on Iran's oil exports went into effect on Nov 5.
 
Before the waivers had been announced, Sinopec, Asia's largest oil refiner, had planned to stop loading Iran oil in November, but resumed imports within days of getting the exemption, a second source said, also asking to remain unnamed.
 
"We continued lifting Iranian oil in November because we received the waiver," the second source said.
 
Sinopec and CNPC will likely use up the 360,000 bpd of Iranian oil imports allowed to China under the waiver.
 
Another source said Iranian oil is "attractively priced" versus rival supplies from the Middle East.
 
For November and December, Iranian Heavy crude sold to Asia has been priced at $1.25 a barrel below Saudi's Arab Medium, a discount not seen since 2004.
 
The source also said many Chinese refiners were geared toward processing Iranian crude grades.
 
At 360,000 bpd, China's purchases would still be 45 percent less than the average 655,000 bpd imported during the January-September period.
 
The rise in Iranian oil supply and surging production from the United States, Russia and OPEC countries has pulled down crude oil prices by almost a third since October.
 
Ahead of the sanctions being implemented in early November, China's crude oil imports from Iran fell to 1.05 million tonnes (247,260 bpd) in October, the lowest since May 2010, Chinese customs data shows.
 
Data from Refinitiv Eikon, however, shows that 2.77 million tonnes of Iranian crude were discharged into Chinese ports in October, including into bonded storage tanks in Dalian.
 
By December, China's Iran oil imports could reach almost 3 million tonnes, the Eikon data showed. A total 2.51 million tonnes of Iranian crude were discharged into Dalian in October and November, according to the data.
 
Other major Iranian oil buyers, including India, South Korea and Japan, are also increasing or resuming orders.
 
It is still not clear whether Iran will be able to export much oil after the U.S. sanctions waivers expire around the start of May.
 
 
Source: The Routers
 

Zimbabwe's President Emmerson Mnangagwa on Friday laid the foundation stone for huge new parliament to be built with Chinese funds outside the capital Harare.

The imposing circular complex will be built over 32 months by the Shanghai Construction group at Mount Hampden, 18 kilometres north-west of Harare, the Zimbabwe Broadcasting Corporation reported. Officials say the current colonial-era parliamentary building in the city centre is too small to accommodate lawmakers.

Mnangagwa said at the ceremony that China had provided a "grant, not a loan, to build a new parliament", without giving a figure.

"Other facilities like banks, hotels will be built around this place," Mnangagwa said adding that a "modern, smart city" was planned.

Tweet PresidentZimbabwe

Mnangagwa took over from long-time ruler Robert Mugabe who was ousted by the military in November 2017.

He has vowed to revive Zimbabwe's economy that has been in ruins for nearly two decades.

China has funded and provided loans for many infrastructure projects across Africa in recent years, ranging from roads and power plants to sports stadiums and government institutions.

Critics say China's increasing sway over the continent undermines democracy and sovereignty.

 

AFP

Trump is about to embark on a trip that could end the trade battle with China — or send the US into an economic Cold War.
 
The future of the US-China trade war will be decided during a meeting between Presidents Xi Jinping and Donald Trump.
 
President Donald Trump is meeting with Chinese President Xi Jinping on Friday and Saturday at the G20 summit in Argentina. At the top of their agenda: the US-China trade war.
 
The US and China have implemented tariffs on $360 billion worth of goods flowing between the two countries.
Prospects for meaningful progress are dim as the two sides remain far apart on major issues.
 
Trump's mood could also determine the outcome. The moment of truth for President Donald Trump's trade war with China is fast approaching.
 
Trump is set to meet with Chinese President Xi Jinping at the G20 summit in Buenos Aires, Argentina, on Friday and Saturday.
 
The meeting with Xi could determine whether the US and China can ultimately resolve their differences and lower tariffs affecting more than half of all trade between the two countries. Or, the outcome could be that the two sides will remain locked in a still-burgeoning trade war with no end in sight.
 
And you may ask yourself, how did we get here? The trade fight between the US and China has been brewing for decades, as Beijing's economic and political ascendance has threatened the US' dominance on the world stage. Trump, a longtime proponent of tariffs, seized on China's growing strength during the 2016 campaign.
 
After a year of courting China as an ally in negotiations with North Korea, Trump turned on Beijing in March with the announcement of tariffs on Chinese goods. The administration argued that the tariffs were a necessary measure to punish China for alleged theft of US intellectual property and would force the ruling Communist Party to reform their economic policies.
 
After a few months of unsuccessful negotiating, Trump imposed the first round of tariffs against China in July. The resulting back-and-forth has led to the current state of affairs: US tariffs on $250 billion worth of Chinese goods and Chinese tariffs on $110 billion worth of American goods.
 
Economists have warned that escalation of the trade war or allowing the tariffs to remain in place for an extended period of time would be seriously damaging for the US economy. US companies have warned that the tariffs are harming their businesses, and American farmers are getting whacked by China's retaliatory measures.
 
If Xi and Trump are unable to reach a deal, the two countries would enter what some experts have called an "economic Cold War."
 
The US would also likely move forward with tariffs on the remaining $255 billion worth of Chinese goods not subject to tariffs. That round of tariffs would squeeze many popular consumer products, and retailers like Walmart have warned the move would likely result in higher prices for customers.
 
A dim dealmaking outlook ...
While economic concerns and the summit have brought the two leaders together in Buenos Aires, most experts agree that the Trump-Xi meeting will produce little, if any, results.
 
Stewart Patrick, a senior fellow at the Council on Foreign Relations, said the G20 meeting "offers the prospect of a Band-Aid fix at best."
 
"Given current mistrust, even a truce seems unlikely," Patrick added.
 
At most, experts say, the two sides could agree to delay the implementation of even more tariffs. Ed Mills, a policy analyst at Raymond James, said there could be some upside in the form of a rough outline of a deal.
 
"Officials on both sides have been rhetorically setting the stage over the past week without any indication that either side is willing to back down from the dispute," Mills said. "The two nations remain far apart on a negotiated solution, increasing the chances of deterioration and continuing tariff escalation in 2019."
 
But the sheer size of issues to discuss likely means that any agreement that could come out of the meeting will be preliminary and not take the larger threat — the so-called economic Cold War — off the table.
 
"We caution that fundamental issues relating to intellectual property and subsidization appear intractable at this stage, which suggests that the broader threat of Chinese trade tensions will persist," said Isaac Boltansky, a policy analyst at research and trade firm Compass Point.
 
Trump acknowledged in an interview with the Wall Street Journal this week that a deal to prevent the tariff rate from increasing in January is "highly unlikely." The president also appeared to express misgivings about a possible deal while talking to reporters on Thursday.
 
"I think we're very close to doing something with China, but I don't know that I want to do it, because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes," Trump said.
 
Most of Trump's advisers also seem to be urging caution ahead of the meeting.
 
But the increasing pain from the tariffs could compel Trump to agree to some sort of preliminary deal, said Matthew Goodman, senior adviser for Asian economics at the Center for Strategic and International Studies.
 
"My personal guess — and I'm sticking my neck out here — is that there will be some kind of ceasefire agreed to largely because I think President Trump and President Xi both have an incentive to put this dispute on hold," he said in a recent press call.
 
Goodman argued that the recent US-stock-market woes and China's slowing economy have put enough pressure on the two sides to make some progress.
 
… but Trump is a wild card.
But knowing exactly what will happen when the presidents are face-to-face is impossible because of Trump's infamous unpredictability.
 
For one thing, Trump's international trips — the G7 summit, the recent trip to Paris, and more — have been anything but predictable.
 
These trips were marred by fights with other world leaders, Twitter tirades, and refusals to sign on to ceremonial communiqués with other nations.
 
"This binary catalyst will be hugely influenced by Trump's mood after a long flight to a foreign country at a multilateral summit that will be filled with world leaders whose voters tend to have an extremely negative view of Trump," Chris Krueger, a strategist at Cowen Washington Research Group, said.
 
 
Source: Business Insider
President Donald Trump seemed ready to escalate the trade war with China in an interview with The Wall Street Journal on Monday.
 
Trump said it was "highly unlikely" that a planned meeting with Chinese President Xi Jinping at the G20 summit would yield a deal to prevent an increase in tariffs.
 
Trump also said he was prepared to hit another $267 billion worth of Chinese goods with tariffs — which would include duties on consumer goods like iPhones.
 
President Donald Trump seems ready to escalate the trade war with China even further as a crucial meeting with Chinese President Xi Jinping nears.
 
In an interview with The Wall Street Journal on Monday, the president said it was "highly unlikely" that the US and China would reach a deal to prevent the 10% tariffs on $200 billion worth of Chinese goods from increasing to 25% on January 1.
 
In addition, Trump told The Journal that if planned weekend talks with Xi at the G20 summit in Argentina did not go well, more tariffs could be on the way.
 
"If we don't make a deal, then I'm going to put the $267 billion additional on," Trump said.
 
Trump first announced tariffs on Chinese goods in March, ostensibly to punish the country for the theft of US intellectual property.
 
After failed negotiations on a trade deal with China, the first round of tariffs on $50 billion worth of Chinese goods went into effect in July.
 
A second round of tariffs on another $200 billion of goods went into effect in late September, and Trump has repeatedly threatened to impose a third round on the remaining imports not subject to tariffs.
 
While Trump said the third round would hit another $267 billion in goods, some reports peg the remaining amount at $257 billion.
 
After mostly avoiding consumer goods in the first two rounds of tariffs, Trump said he was also willing to place tariffs on items such as Apple's iPhone and laptops imported from China. The administration backed off plans to impose tariffs on some Apple products as part of the previous round after the tech giant lobbied the president.
 
Economists warn that tariffs on consumer goods would drive up prices for Americans, curtail consumer spending, and eventually hurt US economic growth. Trump disagreed with that assessment, instead suggesting that a low tariff rate on such goods would go unnoticed by consumers.
 
"I mean, I can make it 10%, and people could stand that very easily," he told The Journal.
 
In addition to the tariffs, the Trump administration is employing a suite of other measures to crack down on China's economic practices. For instance, the Department of Commerce is considering stricter rules on which types of technology can be exported to China, and the Justice Department has charged some Chinese companies and people with economic espionage.
 
While there were hopes a Trump-Xi meeting could deescalate the trade tensions, recent moves by the administration seem to point to a sustained trade war.
 
Perhaps most significant, US Trade Representative Robert Lighthizer last week released an update to the investigation into Chinese intellectual-property theft that kicked off the tariff battle. It found China had not changed any of the practices that precipitated Trump's tariff decision.
 
 
Source: Business Insider

President Donald Trump is succeeding in making China pay most of the cost of his trade war.

That’s the conclusion of a new paper from EconPol Europe, a network of researchers in the European Union. U.S. companies and consumers will only pay 4.5 percent more after the nation imposed 25 percent tariffs on $250 billion of Chinese goods, and the other 20.5 percent toll will fall on Chinese producers, according to authors Benedikt Zoller-Rydzek and Gabriel Felbermayr.

                                                                         

The trade dispute between the U.S. and China is showing slim hope of abating as the leaders of the two nations prepare to meet in Argentina this month. According to Zoller-Rydzek and Felbermayr, the tariffs will do what Trump has longed for: They will cut American imports of affected Chinese goods by more than a third, and lower the bilateral trade deficit by 17 percent.

The Trump administration selected products with the highest “price elasticity,” or high availability of substitutes, according to Zoller-Rydzek and Felbermayr. The Chinese products hit by Trump’s tariffs can mostly be replaced by other goods, forcing exporters to cut selling prices to keep buyers.

“Through its strategic choice of Chinese products, the U.S. government was not only able to minimize the negative effects on U.S. consumers and firms, but also to create substantial net welfare gains in the U.S.,” the researchers wrote.

The U.S. is due to raise duties on the largest $200 billion tranche of goods to 25 percent from 10 percent on Jan. 1. In retaliation, China has slapped tariffs on $110 billion in imports from the U.S. and effectively shut off its purchase of key American agricultural exports including soybeans.

With the economic costs shifted to China, the U.S. levies will lead to a $18.4 billion net gain for the American government, the researchers wrote.

“As the trade conflict escalates, however, the U.S. administration may not be able to restrict its selection to products with high import elasticities,” they wrote. “And U.S. welfare might decrease as more of the tariff incidence falls on U.S. consumers.”

 

- Bloomberg

MTN's new smart phone is due to be launched in Nigeria and South Africa at the start of next year.
The new phone, which offers a 3G internet connection, could cost less than R300.
It also has two cameras, and impressive battery life.
MTN this week announced that it will launch a super-cheap smartphone early next year, and it has some decent specifications.
 
The new unnamed phone will cost between $20 (R290) and $25 (R365) and offer a 3G internet connection, as well as:
 
Bluetooth connectivity
GPS for navigation
Two cameras (front and back)
Dual SIM support
512MB of storage
 
The phone will also have a battery life of 2,000 milliampere hour (mAh)  – compared to the iPhone XS, which has a 2,658 mAh battery but costs around R24,000. The new MTN phone has a longer battery life than many other high-end smartphone models, including the iPhone 6 (1,810mAh).
 
Its screen is only 2.4 inch (6cm), though – less than half the size of other smartphones on the market. The Samsung Galaxy Note9, for instance, has a 6.4 inch screen, while the iPhone XS has a 5.8 inch display.
 
The phone will offer Google Assistant and run on the KaiOS operation system, which powers close to 50 million smart feature phones globally. Phone users will be able to access KaiStore, which offers the world’s most popular apps, as well as music and video streaming services.
 
The phone is powered by the UNISOC SC7731EF, a 3G smart chipset with memory of up to 256MB RAM, a fraction of what other smartphones are offering. In fact, iOS needs 2GB of RAM to work smoothly, while Android phones are also comparatively memory-hungry.
 
Apart from KaiOS and UNISOC, MTN is working with China’s largest telecom operator China Mobile to produce the phone. Among other things, China Mobile is helping to customise the phone. The MTN Mobile Money app will be integrated onto the phone.
 
The new phone will initially be launched in Nigeria and South Africa in the first quarter of 2019. 
 
 
 
Source: Business Insider
African states need work with African developmental finance institutions, as well as with those outside the continent, in filling the massive infrastructure gaps that exist.
 
Speaking to Press on the sidelines of the three-day Africa Investment Forum – held at the Sandton Convention Centre in Johannesburg this week – CEO of the Africa Finance Corporation (AFC) Samaila Zubairu said that, rather than choose foreign financiers over locals, countries should make use of both on a complementary basis.
 
“African states should work with both because we all have different roles to play,” he said, adding that the most prominent foreign financiers hailed from China.
 
“We as locals can help the government to structure the project and to define the need for the Chinese to come in – as opposed to having the Chinese define the role that they will play.
 
MOST TIMES WHEN AFRICAN GOVERNMENTS WORK WITH CHINA, THE CHINESE WILL PROVIDE A PORTION OF FUNDING AND EXPECT THE GOVERNMENT TO PROVIDE ITS PORTION. AFRICAN FINANCE INSTITUTIONS CAN HELP GOVERNMENTS PROVIDE THEIR OWN PORTIONS
 
Samaila Zubairu, CEO of the Africa Finance Corporation
Zubairu said the AFC had been a beneficiary of a $300 million (R4.3 billion) loan from China.
 
He said Chinese finance should not generate fear or pose a major threat, as all finance, irrespective of the financier, should be based on rational decision making.
 
“All financing should be based on viability, even if the money is coming from your mother. If you want to take the money, you should have a plan on how you are going to repay it. Once that plan is clear, you should make contingencies for things that could go wrong,” he said.
 
Zubairu said another challenge facing the continent was uncertainty with regard to what some governments want. He praised President Cyril Ramaphosa’s multibillion-rand investment inflow target as a noble initiative to which the AFC also wanted to contribute. “We think it is a great plan and we want to participate once we have projects to support the investment flow,” he said.
 
Established in 2007, the AFC is a Pan-African development finance institution with 20 African states as members. It is partly owned by the Central Bank of Nigeria and the government of Ghana, among other shareholders. So far, it has invested $4 billion across 28 countries.
 
Zubairu said that although South Africa was not a member of the AFC, it had invested in the Bakwena toll road in Gauteng – first in 2010 and then it increased its investment five years ago. “We have approached them (government) and they have not accepted membership. We hope that with this new government we can advance that, because the government is open to investments,” he said, adding that the benefit of membership lay in facilitating bigger investments faster.
 
In his opening address at this week’s investment forum, Ramaphosa said that the event – the first of its kind, convened by the African Development Bank – was a milestone in shaping the continent’s fortunes.
 
“The forum is a platform for African governments and businesses, continental and international financial institutions, and other development partners, to focus on the critical task of making Africa the next global frontier in investment,” he said.
 
Ramaphosa said a number of areas needed more attention to attract investments.
 
“To realise this potential, Africa needs to invest in the skills, capabilities and wellbeing of its people. It needs to improve governance and promote peace and stability. Most importantly, if Africa is to seize the opportunities of the future, it needs to mobilise large-scale, sustained investment, especially in infrastructure. African governments cannot do this without business.
 
“The private sector and private markets are key players in the African investment landscape, supported by the lending capacity of financial institutions both on the continent and beyond.”
 
 
Source: City Press

The longest suspension bridge in Africa, the cross-sea Maputo Bay Bridge with its link roads in Mozambique, was officially open to traffic on Saturday.

The three-kilometer twin-tower suspension bridge extends with a main span of 680 meters over the Maputo Bay of the Indian Ocean. The bridge is part of the Maputo Bridge and Link Roads project built by the China Road and Bridge Corporation, with Chinese financing and standards.

Speaking at the inauguration, President of Mozambique Filipe Jacinto Nyusi said that the project will facilitate transport and connectivity between the country with other parts of the African continent.

The president expressed his gratitude to the government and friendly people of China for the support in funding this infrastructure and care given to the project.

Nyusi also highlighted that the bridge has fulfilled the wish of the people, with its potential to contribute to the sectors of tourism and logistics, the national economy and the global idea for regional integration.

Chinese Ambassador Su Jian said the project is a remarkable mark in the development process of Mozambique and it has potential to promote social and economic development by forming a transport artery from south to north across the country.

The ambassador also noted the project's domestic contribution, including jobs creation, transfer of technology to local people and auxiliary projects such as building classrooms for local schools, houses for resettled families and actions for environment protection.

Maputo-Catembe Bridge impact on South Africa

The Maputo-Catembe Bridge is guaranteed to cut travel time between Maputo in Mozambique and KwaZulu-Natal in South Africa.

KwaZulu-Natal’s Department of Economic Development, Tourism and Environmental Affairs confirmed that this development, which involved South African engineers, would stimulate trade and tourism between the two countries, saying:

“The road will see the travel time between Maputo to Kosi Bay, KwaZulu-Natal’s East coast border post, drastically reduced, from 6 hours to 90 minutes.

This is a huge achievement. It will boost trade and tourism between South Africa and Mozambique.”

 

Credit: Xinhua

Page 1 of 5

  1. Opinions and Analysis

Calender

« December 2018 »
Mon Tue Wed Thu Fri Sat Sun
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31