Sino-African economic and trade relations will be promoted to a
higher level due to Chinese President Hu Jintao's upcoming visit to
Africa, a senior Chinese trade official said Friday.
Yu Guangzhou, deputy minister of commerce, said at an exclusive
interview with Xinhua that China in the new year will carry out
economic and trade cooperation with African countries under the
principles of equality and mutual benefit, taking diverse forms,
emphasizing concrete results and achieving common development.
"China will seek overall cooperation with African countries and
sub-regional organizations in such key fields as trade, investment,
infrastructure construction, natural resources and energy
development, human resources development and agriculture," Yu
said.
Trade between China and Africa increased rapidly over the last
several years. Chinese customs figures show that Sino-African trade
volume from January to November of 2003 amounted to US$16.64
billion, up 48.4 percent from the same period a year ago.
The vice minister attributed the rise to China's expanded
exports of electronic products, machinery and high-tech products to
Africa and China's surging imports of crude oil and other natural
resources from Africa.
"The good momentum in Sino-African economic relations and trade
was a result of the long-term friendly political relations, and the
joint commitment to economic growth," Yu said. "In the years to
come, we are firmly convinced that greater potential will be tapped
in bilateral trade as both Chinese and African economies keep
growing."
Africa has been a key region where China encourages its
businesses to inject investment. So far, the Chinese government has
set up 11 centers for investment and trade promotion in Africa,
providing business information and consultation to local Chinese
enterprises.
In addition, Yu said, the Chinese government has set up special
funds, formulated the financial supporting policies and simplified
relevant procedures to encourage entrepreneurs to invest
abroad.
With the stabilization of overall political situation and the
improvement of investment environment in Africa, Chinese businesses
are becoming more and more interested in areas like resources
exploration, infrastructure construction, telecommunications and
pharmaceutical industry in Africa.
By the end of 2003, the number of Chinese enterprises in Africa
with approval or registration by the Ministry of Commerce had
totaled 638, with a contractual Chinese investment volume of US$925
million.
The investment has been made in such fields as trade,
transportation, tourism, engineering, consultation services,
mechanics, light industry, household electrical appliances,
textile, and agriculture.
"Chinese investment in Africa has resulted in a win-win outcome
for both China and Africa," Yu Guangzhou said. "While Chinese firms
profited, they helped increase jobs and fueled local economic
growth."
The vice-minister stressed that China's assistance to Africa
will continue.
"China's assistance to Africa will not be affected by the
increase of trade and investment," he said. "China will continue to
provide friendly African countries with unconditional assistance
within its capacity."
In the second ministerial-level conference of the
China-Africa Cooperation Forum last month in Ethiopia, China
pledged to help train about 10,000 African professionals in the
next three years.
According to Yu Guangzhou, the training is aimed to boost
African countries' capability of realizing independent and
sustainable economic development.
(Xinhua News Agency January 23, 2004)