As an island country in Africa, its name is known by many people and families because of the Hollywood cartoon movies. In the movies, this lovely country has so many different kinds of animals, endless golden grassland, mysterious jungles and the romantic sunset on the beach…This is Madagascar! Invited by the Madagascar government, Mr. Xu Zhiqiang, the Chairman of China Art Bank and President of Home and Abroad News Press Administrative Committee, and his delegation visited Republic of Madagascar on October 9th. The delegation met with President Hery Rajaonarimampianina, Prime Minister Roger Kolo and reached a number of cooperation agreements through friendly communications.
Madagascar is the largest island in Africa. The country is a perfect linkage between China and the African Union because of its strategic location in the Indian Ocean. With possess of rich and quality energy and mineral resources, forestry and fishery resources and tourist resources, Madagascar and many other African countries are vigorously building the communication infrastructures, Mr. Xu Zhiqiang and his delegation have brought similar projects that are complementary with the Chinese industry developments.
In the meeting, President Hery said that China, especially Guangdong, has a long history friendship with Madagascar, oversea Chinese in Madagascar have contributed significantly for the development of the country. Madagascar hopes that it can learn from China’s experiences, especially the development experience of Macau SAR, combining Madagascar’s resource advantages with huge capital flows from Hong Kong and Macau to promote the win-win development of the two regions and to deepen the mutual communication and cooperation of the two countries.
Mr. Xu Zhiqiang said that China Art Bank and its financial organizations are willing to coordinate with the China Enterprise Investment Association and lead the state-owned enterprises to participate in the development projects in Madagascar, including infrastructure developments, mineral resources explorations, and livestock exports etc. Meanwhile, establishing World Union Pay Emerging Country Bank as well as World Union Pay International Currency Settlement System in Madagascar is the top location choice.
President Hery indicated that Republic of Madagascar will make every effort to provide convenience to support the development of "Special Economic Zone" in Madagascar, which is proposed and funded by China Art Bank and other financial organizations. Following the "One Country Two Systems" policies from Hong Kong and Macau as reference, the sovereignty of this "Special Economic Zone" belongs to Madagascar, and the rights of operation and management belong to China Art Bank and the invested financial organizations.
根据协议，马达加斯加“经济特区”首先选择在 LA BAIE DE NARINDA ，总规划面积500平方公里，第一期开发面积为200平方公里；使用权年限为99年，到期自动续期99年。为促进马达加斯加金融产业的发展以及基础建设的资金配套，中国艺术银行可在马国成立并独资经营：世界银联新兴国家银行、证券交易所、股票交易市场以及保险公司等金融机构，其设立及经营依照国际金融法规与马国中央银行、银监会的法律、法规办理。银行总部设在马国首都，在国内外开设分行以及分支机构，为全力支持马国经济发展提供资金保障。
According to the Agreement, the location of Madagascar "Special Economic Zone" will be in LA BAIE DE NARINDA, it covers a total area of 500 square km, the first phase development covers 200 square km; the term of land use is 99 years with an automatic renewal for another 99 years. In order to promote the development of Madagascar's financial industry and to provide the supporting fund for its infrastructure development, China Art Bank shall establish a series of sole-investment financial organizations in Madagascar, including World Union Pay Emerging Country Bank, security exchange, share exchange market and insurance companies and so on. The establishments and operations will be in accordance with international financial regulations and the regulations and laws of Madagascar Central Bank and the Banking Regulatory Commission. The headquarter of the bank will be in the capital of Madagascar, with branches all around the country and abroad to fully support and secure the funding of Madagascar’s economic development.
The "Special Economic Zone" between China and Madagascar will take China Shanghai Free Trade Zone as a blueprint to develop related infrastructures such as airport, shipping ports, power station, and railroads and such. The "Special Economic Zone" will consist of financial district, business district, High-tech industrial district, leisure and tourist district, residential district, High-tech agricultural area, livestock industry area, fishery industry area and academic education areas. The development of "Special Economic Zone" will greatly improve the wellbeing, health and prosperity of Madagascar people.
The fruitful results achieved during the visit also included Madagascar agreed to establish its consulate in Macau SAR, Mr. Xu Zhiqiang will be the special consultant to the Madagascar President in Macau and the consul in Macau consulate. Mr. Fan Yingchao is appointed as the special consultant to the Madagascar Prime Minister in Macau.
Mr. Xu Zhiqiang said in the interview, the delegation received a high-standard reception in Madagascar and opened up a cooperation channel between private enterprises and the Madagascar government, and it dynamically improved the pragmatic cooperation between the two countries. At the APEC, Chairman Xi Jinping has announced that the leaders of APEC economic entities agreed to start the process of Free Trade Zone in Asia Pacific regions. This is a victory for China, who has been seeking to play a more significant role in multinational trade policy makings. China has established a series of trade and financial proposals. We are hoping that this beautiful island country will become the first Free Trade Zone in Africa, and be the "Dragon of India Ocean"!