China prepares for upcoming AfDB meeting in Shanghai

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Source: CCTV.com | 05-14-2007 08:42

Last minute preparations are underway for the upcoming annual board meeting of the African Development Bank. It opens Wednesday in Shanghai.

It will be the first time the annual board meeting of the ADB has been held in Asia. Both China's central bank and the ADB expect that fresh opportunities for China-Africa cooperation will come out of the meeting.

Over the past six years,trade volume between China and Africa has quintupled. And the ADB has said investment from China to Africa is expected to reach two billion US dollars in 2007. Many African government officials and bankers taking part in the Shanghai meeting, including representatives from Uganda, Kenya and Zimbabwe have expressed high expectations for future cooperation with China.

This year's ADB board meeting's theme is "Africa and Asia: Partners in Development". The two-day event will focus on infrastructure development in Africa, as well as regional integrity and poverty relief. ADB president Donald Kaberuka says this year's meeting in Shanghai is a good opportunity for both sides to strengthen bilateral ties. The Chinese side shares this view.