On January 18th
, China has signed the agreement with the republic of Djibouti and DPFZA, it will cooperative building the free trade forerunner zone and promote the cooperation of bank card scheme liquidation between China and Djibouti.
According to the agreement, China will construct a set of advanced bank card scheme system for Djibouti so that to provide the channel of currency liquidation and trade liquidation between China and Djibouti, it has also provided provide financial infrastructure services to “OBOR”(One Belt and One Road) as well.
This set of system was responsible for IZP group, Chongqing Globebill, the subordinate of IZP group has signed the cooperative agreement of bank card scheme liquidation with Djibouti，it will build a bank card payment system covering the whole country of Djibouti that could realize clearing and settlement directly between RMB and DJF to help stabilize the currency for Djibouti and boost bilateral trade as well.
During the period of signing an agreement, Ismail Omar Guelleh, the president of Djibouti, met with the president of IZP group, Luofeng, Guelleh expressed that Djibouti and other African countries expect to attract more Chinese investors to invest in Africa, at the same time, he mentioned that this cooperative project between Chongqing Globebill and the Central bank of Djibouti will turn into a demonstration effect to promote the financial infrastructure construction of the whole African region.
The republic of Djibouti is the key point of “OBOR” strategy to the west line on the sea, at present, the domestic financial infrastructure of Djibouti is relatively weak and is lack of a set of a complete national payment system, therefore, the financial business is entirely dependent on cash transaction and the US Dollars financial system.
Left side: Djibouti President Mr.Ismaïl Omar Guelleh
Right side: the Chairman of Izp Group Mr. Luo Feng
Ismail Omar Guelleh, the president of Djibouti, China’s commercial counselor to the embassy in Kyrgyzstan Ge Hua, China merchants group deputy general manager Hu jianhua and the president of IZP group Luofeng attended the signing ceremony.( Guan Yuxia)