Sunday, 17 June 2012 03:57

Newsletter 12

In this newsletter:

  • Agricultural relation between China and Africa on acceleration
  • Zimbabwe invited in China-Africa Co-operation forum

Agricultural relation between China and Africa on acceleration

The relationship between China and Africa started mainly on infrastructure building in exchange for untapped deposit of natural resources and virgin market for Chinese markets. However this relationship has, in time, spilled over to almost every economic sector to an extent where it is almost impossible to find a sector with no Chinese involvement. Agriculture is increasingly becoming an important sector for the two allies.

The trade volume on agricultural products between China and Africa reached $4.78 billion in 2011, according to figures provided by the Chinese government. The volume of trade was a 40.2% jump over the 2010 figures and was seven times that of 2001.

Speaking at the recently-held China-Africa Business Cooperation Forum, Director of the Department of International Cooperation of the Chinese Ministry of Agriculture, Wang Ying said China exported $2.45 billion in agricultural products to African countries in 2011, up 35.7% year-on-year, and imports increased 45.2% to reach $2.33 billion.

China is said to be Africa’s largest trading partner as bilateral trade value exceeded $160 billion in 2011.

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Zimbabwe invited in China-Africa Co-operation forum

The Zimbabwe business community has been invited to participate at the fourth session Forum of China-Africa Co-operation scheduled to take place in Beijing from July 18 to 19. The China Council for Promotion of Trade and the Chinese Ministry of Commerce will co-host the event, aimed at promoting co-operation as well as strengthening understanding and communication between Chinese and African entrepreneurs.

The Zimbabwe National Chamber of Commerce said at the event, Chinese industrialists will have extensive exchanges and negotiations with business representatives from Africa on the basis of equality and mutual benefit, seeking potential investment, trade opportunities for co-operation.

With Zimbabwe, trade levels doubled to US$800 million in the last two years as ties between the two countries continued to grow.

One of the major trade commodities between the two countries is tobacco, where China is Zimbabwe’s biggest buyer of the golden leaf. The Chinese government has also provided support through donations to various initiatives in the country worth over US$25 million since 2009.

Previous FOCAC conferences were held successfully in Addis Ababa, Ethiopia, in 2003; Beijing, China, in 2006; and Sharm el-Sheikh, Egypt; in 2009.

“This year FOCAC will surely become another significant event in the history of China-Africa economic and trade relations,” said the ZNCC. It said the two-day programme of FOCAC included the opening ceremony, plenary session, and business matchmaking and signing.

Trade volume on agricultural products between China and Africa reached US$4,78 billion in 2011, a 40,2 percent jump over the 2010 figures and seven times that of 2001.

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Last modified on Sunday, 17 June 2012 04:00