Out-Law News | 22 Jan 2019 | 1:18 pm |
The head of China's international development cooperation agency Wang Xiaotao, who was on a two-day visit in Tunisia, signed the agreement with Tunisia's secretary of state to the minister for foreign affairs Hatem Ferjani.
The two sides agreed to strengthen their cooperation and increase Chinese investment in Tunisia, especially in infrastructure. Meanwhile, Tunisian foreign affairs minister Khemaies Jhinaoui said that Tunisia will cooperate with China in other economic areas.
Infrastrucute specialist Rachel Turner of Pinsent Masons, the law firm behind Outlaw.com, said, "Whilst historically Tunisia and China have maintained strong diplomatic relations this has not translated into significant investment or trade between the two countries. This is set to change as Tunisia seeks a meaningful engagement with BRI, to develop its infrastructure and open up trade with China and Africa in order to expand and diversify its trading partners which is currently dominated by Europe."
Early in last July China and Tunisia signed agreements for belt and road developments. The two signed a partnership agreement on developing a digital economy, focusing on telecommunications, fiber optics, network computing and e-commerce.
The belt and road initiative started in 2013 and China has signed belt and road cooperation agreements with over 140 countries and by last November international organisations, according to the belt and road official website.