China-Africa Trade Expected to Top $100b by 2010

2006-11-05 06:17:17 CRIENGLISH.com

Chinese Premier Wen Jiabao proposed China and Africa should fully tap their cooperation potential and strive to bring their trade volume to 100 billion US dollars by 2010.

He made the remarks at the high-level dialogue and the second Conference of Chinese and African Entrepreneurs.

That figure will more than double the 2005 level of about 39 billion dollars. In the first nine months, Sino-African trade surged to 40.6 billion US dollars, up 42 percent year-on-year.

Premier Wen Jiabao said China's assistance to Africa was sincere and selfless with no political strings attached.

"To us, support and assistance among countries are mutual. We will never forget the invaluable support Africa has given to China on the issue of upholding its sovereignty and territorial integrity. We will continue to conduct in good faith through mutually beneficial cooperation with Africa. Sino-African business cooperation is open. We are ready to work closely with other countries and international organizations in a common effort to provide greater support and assistance to Africa."

On the fresh pledges to facilitate bilateral trade and cooperation announced by President Hu Jintao earlier in the day, Wen Jiabao called these measures "pragmatic and stimulative."

He also made five proposals to entrepreneurs from both China and Africa to ensure the effective implementation of these steps.

These include expanding the size of Sino-African trade, increasing cooperation in investment, upgrading assistance to Africa, promoting cooperation between the business communities and increasing assistance to Africa in human resources development.

Wen Jiabao said both sides should work closer in the service sectors, tourism, finance and telecommunications in particular, to cultivate new economic growth points and facilitate trade in a more balanced and healthier manner.

For his part, Rwandan President Paul Kagame said his country, together with the whole of Africa look forward to expand their economic and trade cooperation with China.

"To be followed..."

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