China-Africa: Guangzhou Witnesses Rapid Growth in Trade with Africa
Although it was merely 3% of the total import and export value generated in Guangzhou, foreign trade with Africa has increased dramatically, said Gao Yaozong, Deputy Director of Guangzhou Municipality’s Bureau of Foreign Trade and Economic Cooperation, when he was interviewed at CRI Online.
He said that the year 2007 saw a total trade value with Africa of USD2.4 billion, up by 52.7% over 2006. Although influenced by the global financial crisis, Sino-Africa trade in the first ten months of 2008 achieved USD2.7 billion, up by 38.6% over the same period of last year, of which export values totaled USD1.7 billion, up by 36% and import values were USD1 billion, up by 40%.
Gao introduced that China mainly exported to Africa mechanical and electrical equipment, light industrial products, audio and video products and imported mainly fuel gas and mineral ores.
Gao said that Guangzhou would increase trade with Africa. It would not only promote export but also require Guangzhou-based enterprises to improve their after-sale service, promoting foreign trade and strengthening cooperation with the help of consulates, embassies, chambers of commerce and trade associations in both China and Africa.
(lifeofguangzhou)