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Republic of Congo welcomes start of conversion of Yuan within CEMAC zone

Xinhua, July 8, 2016 Adjust font size:

Republic of Congo Government Spokesman Thierry Moungalla on Thursday welcomed the expected start of conversion of Chinese currency, Yuan, within the Central African Economic and Monetary Community (CEMAC).

"The conversion of Yuan within CEMAC zone will enable Chinese investors to easily come here in Congo to carry out their economic activities," Moungalla said when he addressed the press in the capital Brazzaville.

In the area of finance, the Republic of Congo and China have set up in Brazzaville the Sino-Congolese Bank for Africa whose construction, a 15-storey building, is under construction in Brazzaville.

He further hailed the new agreements signed with China during the State Visit to Beijing by President Denis Sassou N'Guesso.

"An agreement with China will soon see the construction of a special economic zone in Pointe Noire, the construction of a parking lot for our aircrafts and continuation of cooperation between China and the Republic of Congo in the infrastructure sector," he affirmed.

"Those are the signs that show our country is still attractive. Yes, there could be a depressing macro-economic environment around the petroleum sector, but it is short-term, the oil prices will rise again," he concluded. Enditem