China-Africa trade up 40 pct in 2005

9 January 2006

Beijing, China, 9 Jan – Trade between China and African countries will increase in value to US$ 37 billion in 2005, an annual increase of some 40 percent, the Xinhua news agency has reported.

Two-way exchanges in the first 10 months of last year between Africa and China year were worth US$ 32 billion, a year-on-year increase of 39 percent.

China’s sales to Africa were valued at US$ 15 billion during the period in question, while African exports to China were worth US$ 17 billion.

China’s trade minister said last week that Beijing aims to boost its commerce with Africa and maintain its policy of customs tariff exemption for imports from less developed states in the continent.

The Beijing minister added that China will fulfill its pledge to give professional training to about 100,000 Africans from 2004 to 2006.

Official figures show that Chinese companies invested some US$ 175 million in various African countries during the first 10 months of 2005. (macauhub)