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China-Africa trade hits N4.17 trillion in seven months

China-Africa trade hits N4.17 trillion in seven months

The Consul-General of China in Lagos, Mr Chao Xiaoliang, on Thursday said the volume of trade between China and Africa from January to July this year now stand at about N4.17 trillion ($116 billion).

Chao, in an article entitled, “Working Together to Write a New Chapter in China-Africa Relations’’, also announced China’s readiness to host this year’s Forum on China-Africa Cooperation (FOCAC) Summit in Beijing.

“The Chinese government has since 2010 continued to maintain its position as Africa’s largest trading partner.

“In 2017, the volume of trade transacted between China and Africa is about N6.12 trillion ($170 billion).

“Trade volume between China and Africa in the first seven months of this year reached N.17 trillion ($116 billion),’’ he said.

Chao also said that China’s total non-financial investment in Africa last year was over N3.6 trillion ($100 billion).

According to him, there are currently about 3,200 Chinese companies’ investment in Africa’s transportation, energy,
telecommunications, industrial zones, agricultural technology centres, water supply, schools and health sectors.

He said China has so far trained more than 16,200 African technicians and provided over 43,000 training opportunities in China and 20,000 government scholarships for Africans.

On the summit, Chao disclosed that it is scheduled hold from Sept. 3 and Sept. 4 in Bejing, adding that the summit will bring
together China and African leaders for a renewed friendship and cooperation.

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The Chinese Envoy said President Muhammadu Buhari, other leaders of African countries, Chairperson of the African Union Commission would lead delegations to the summit.
“The FOCAC Beijing Summit is another reunion for the big family of China and Africa.

“It is going to be the largest home-field diplomatic activity attended by foreign leaders after the Beijing Summit in 2006 and that of Johannesburg Summit in 2015,’’ he said.

The consul-general said that FOCAC was first established in 2000 as a mechanism for collective dialogue and multilateral cooperation between China and Africa. cullled from

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