German businesses favor cooperation with China in Africa: study

A large number of German businesses are in favor of cooperation with Chinese firms in Africa, a study titled "China in Africa" published by Germany Trade & Invest (GTAI) has found.

Chinese and Sudanese employees of China's Sinopec Group chat with each other in Sudan. [File photo: VCG]

The study, published on Monday, said China is deeply involved in the development of Africa after years of engagement. It is now one of the largest investors in many African countries and makes great contributions to local growth.

"China's further growing presence in Africa is a reality that companies need to address," said GTAI Chairman and CEO Juergen Friedrich.

In a survey conducted for the study, a large number of German firms expressed willingness to develop trilateral cooperation with African and Chinese companies, in order to explore opportunities in the rapid development of the continent.

They see Chinese companies are more trailblazers and partners than competitors.

"Cooperation with a successful player like China should make sense, and the study showcased many examples and projects in this aspect," Friedrich said.

The study found that such trilateral cooperation has been overwhelmingly positive. Know-how and technologies from China and Germany can be quite complementary and serve the urbanization of Africa.

German businesses are attracted by the huge potential of Africa's economy. German Chancellor Angela Merkel announced on Tuesday that she wants to create new incentives to boost German private investment in Africa.

"We want to send a strong signal together here that we are interested in a good and profitable neighborhood between Africa and Europe," Merkel told an economic conference in Berlin.