China Sets Eyes on Gabon Oil

By Henry Neondo

LIBREVILLE---Visiting Chinese Foreign Minister Yang Jiechi in Libreville, Gabon said China and Gabon should intensify cooperation in trade, economy, infrastructure construction, education, culture and health, besides strengthening coordination in major regional and global affairs.

He said his country his ready to work to keep the current momentum of high-level contact with Gabon, help strengthen political mutual trust between the two, and enhance mutual support on issues concerning each other’s core interests and major concerns.

Yang congratulated on the new achievements Gabon has made in its economic and social development under the leadership of President Bongo as well as on its positive influence in regional and international affairs.

He said the two countries share a profound traditional friendship. Since the establishment of diplomatic ties 37 years ago, the friendship that the leaders of the two countries jointly forged and developed has withstood the tests of the time and fluctuating international situation.

“China is ready to work with Gabon in earnestly implementing the important consensus on deepening bilateral ties that President Bongo reached with President Hu Jintao on the sidelines of the opening ceremony of the Shanghai World Expo last year”, said Yang.

On his part, Gabon president expressed the hope that Gabon could strengthen cooperation with China in such fields as infrastructure construction and power grid upgrade.

“The Gabonese side appreciates China’s important influence in international and regional affairs and hopes to enhance cooperation with China on international and regional issues including the reform of the UN Security Council and coping with climate change”, said Omar Bongo.

He added that China-Gabon relationship is good enough to serve as a model for China-Africa relations and South-South cooperation.

“Gabon believes China’s development will bring major opportunities to Gabon and there is great potential for trade and economic cooperation between the two sides”, he said.

Both sides also pledged to make use of the Forum on China-Africa Cooperation as an important platform of collective dialogue and effective mechanism of pragmatic cooperation to bring the new type of strategic partnership between China and Africa to a higher level.

Pundits were however quick to point out the real Chinese motive in dispatching the Foreign Minister to Gabon.

They point out that China, with a bludgeoning population is keen to tap into the Gabon oil.

Oil dominates Gabon's economy, with 46 per cent  of the government’s budget coming from oil and 43 per cent of gross domestic product (GDP). Oil consists of 81 per cent of Gabon exports.

Oil production is said to be on decline rapidly from its high point of 370,000 barrels per day in 1997.