China, Namibia sign economic, technical cooperation deal

China and Namibia signed a multi- million-dollar economic and technical cooperation agreement, pushing forward the ties between the two countries to a new level. The agreement, valued at 150 million Chinese Yuan (about 25 million US dollars), will see Namibia utilize the donated Chinese fund to develop its infrastructure and education in the following three years, according to China's (Xinhua) News Agency. Chinese Ambassador to Namibia Xin Shunkang, said that China is willing to share its experiences in social reform and economic development with Namibia, promising more assistance in the years to come. Tom Alweendo, Director General of Namibia's National Planning Commission, expressed gratitude from the Namibian side. "The money will be utilized over three years in areas of construction, transportation, housing and also education. We hope that we can speed up the implementation of the agreement as soon as we sign it," said Alweendo, who also cited a recent multi- billion-dollar port expansion contract between a Chinese company and the Namibian Port Authority as a sign of good bilateral relations.