Eritrea and Guinea-Bissau have announced plans to join the Belt and Road Initiative (BRI), actively promoted by Beijing. The two nations have reportedly signed a formal agreement with China ahead of a key regional forum.
Eritrea is seen as strategically important due to its access to the Red Sea and the Suez Canal, as well as to waters in the Persian Gulf, and thus to the Indian Ocean. Meanwhile, the Atlantic Ocean nation of Guinea-Bissau is expected to boost China’s maritime interests along the West African coast. The country is a member of the African Continental Free Trade Agreement (AfCFTA) that removed border tariffs between African nations.
China has committed to building a $184 million biomass plant in Guinea-Bissau, and is reportedly involved in several redevelopment projects in the country. Beijing is reportedly supporting a $48-million project aimed at renovating the antiquated telecommunications system and highway construction. Chinese investors have also expressed interest in the logging sector, deepwater fisheries and oil exploration.
.......https://www.rt.com/business/541557-s...guinea-bissau/