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First with the News

Trade Deals Top Agenda As DRC Leader Meets Chinese Counterpart, Xi This Week

May 22, 2023
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By Enyichukwu Enemanna

The President of minerals-rich Democratic Republic of Congo, Felix Tshisekedi, will this week embark on a state visit to his Chinese counterpart, Xi Jinping, where a review and signing of several key trade deals between both countries will take place, Chinese foreign ministry announced on Monday.

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Tshisekedi’s visit which commences May 24 to 29 will pave the way for the two countries to formally overhaul and seal a $6 billion infrastructure-for-minerals deal with Chinese investors.

The visit will strengthen cooperation between the two countries, Reuters said in a report, quoting Congo government spokesman Patrick Muyaya.

“We want to build new relations with China, on sound foundations,” Muyaya said.

Tshisekedi instructed his government at a cabinet meeting on May 19, to move ahead with talks on the deal with Chinese counterparts after the government and other stakeholders “consolidated their position”, a government statement said.

He informed cabinet members that a task force looking at the deal had submitted its conclusions, enabling discussions with Chinese partners to commence in the coming days.

Congo’s government is seeking to “rebalance” the $6 billion infrastructure-for-minerals signed by a previous administration.

It has said terms of the deal were unfavorable to Congo.

The government said its Chinese counterparts have not met their end of the bargain which provided for infrastructure investments in exchange for copper and cobalt.

Congo is the world’s largest producer of battery material cobalt.

During the visit to China, the two heads of state will hold talks and attend the signing ceremony of cooperation documents together, the Chinese foreign ministry said.

“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.

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