Speech given by MEP Olle Schmidt at the ACP-meeting in Kigali, Rwanda

Speech given by MEP Olle Schmidt at the ACP-meeting in Kigali, Rwanda on the report on the direct investments, emphasizing on the Chinese investments in Africa

Mr Co-President,

One can without any exaggeration say that China is an increasingly dominant player in the global economy.

Chinas's currency reserve is the largest in the world.

China's domination in the field of global trade is becoming more and more obvious.

I can fully understand the interest from the ACP-countries to have such a strong partner as China.

And I can also partly understand that you are somewhat disappointed with the US and the EU.

My main problem concerning China is not that it is a growing economic power with increasing global interest – on the contrary.

My deep concern is that China is not respecting fundamental human rights, and is not doing enough to avoid corruption and to enhance openness, transparency, good governance and not at least democracy.

China has no such obligations and preconditions for their economic involvements.

Mr Co-President

My conclusions:

ACP-countries need trade, investments and strong and fair partnership – that is for sure.

But also political reforms and democratic support.

I think we all should be aware of the history of dependence; being too dependent on one strong partner.

The ACP-countries as well as we Europeans.

You may call EU an elephant, but, dear colleagues, EU is a democratic elephant.

Tank you!