Home / Top News Tools: Save | Print | E-mail | Most Read | Comment
Sino-African Jan-Sept Trade Tops US$40.5 Bln
Adjust font size:

Sino-African trade volume topped US$40.5 billion for the January to September period, and is expected to reach US$50 billion by the end of the year, Wei Jianguo, vice minister of commerce, told a news briefing yesterday on the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).

Since the establishment of the FOCAC in 2000, China and African countries have developed trade and economic cooperation on the basis of equality and mutual benefit. Bilateral trade volume increased from US$4 billion in 1995 to US$39.7 billion in 2005, representing an average yearly growth of 30 percent.

Of the US$40.5 billion trade volume achieved as of September 2006, imports accounted for US$21.8 billion, and exports for US$18.7 billion, Wei said.

To promote imports from African countries, the Chinese government announced a zero tariff policy applicable to certain imports from the most underdeveloped African countries that have diplomatic relations with China. The announcement was made at the Second Ministerial Meeting of FOCAC in December 2003.

So far, 190 categories of goods imported from 28 African countries enjoy this zero tariff treatment.

In addition, China applies a "most-favored-nation" clause to 41 African countries.

Africa exports mainly oil, gas, mineral, agricultural and aquatic products, and imports electrical machinery, light industry equipment, textiles and household appliances.

The upcoming FOCAC will host the largest and highest-leveled group dialogues between Chinese and African leaders since the establishment of diplomatic relations, and will have far-reaching influence on Sino-African relations, Wei said.

In addition, from November 6 to 7, the first African Products Exhibition will be held at Beijing International Convention Center. More than 100 enterprises from Egypt, Guinea, Ghana, South Africa and 20 other African countries will participate in the exhibition, which showcases a range of products from various industries including architecture, paper pulp, timber, agricultural products, food and handicrafts in more than 200 booths in the 3,500-square-meter exhibition hall.

All 48 African member states have confirmed their attendance at the FOCAC in Beijing, which will welcome more than 1,700 African delegates. An estimated 1,100 journalists, some 300 from Africa, have registered to cover the summit.

(China.org.cn by staff reporter Li Shen, October 27, 2006)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China Plays Key Role in Africa's Development
- Agricultural Employees from Africa Participate in Chinese Training Program
- Cooperation Summit a Milestone in China-Africa Ties
- China Trains More than 11,000 African Professionals
- China Has Educational Exchanges with over 50 African Countries
- FOCAC Summit 'New Landmark' of China-Africa History
- Government Cars Make Way for Africa Summit
Most Viewed >>
- Shanghai fuel oil futures jump 3.14%
- Fuel shortage as crude oil prices rocket
- CNOOC's 2 oil and gas fields start production in Bohai Bay
- More oil futures products needed
- Promoting civil servants
- New endeavor to build a harmonious world
- Chinese Oil Refining Business Under Pressure
- Will Raising Processed Oil Prices Push Up the CPI?
- Fuel oil futures trading robust
- Scientists seek keys to urban development

Product Directory
China Search
Country Search
Hot Buys