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)
