China to boost economic ties with Africa
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, China’s Vice Commerce Ministry Qian Keming reported that China will increase its investments and imports from the African continent. The country is expected to voice its plans to boost economic relations with African nations during the Forum on China-Africa Cooperation to be held in December in Johannesburg, South Africa.
China has been reportedly working on a cooperation package with Africa for a year which includes upgrading industrial structures as well as supporting infrastructure, investments, and small and medium-sized enterprises in the agriculture and manufacturing sectors.
Following the establishment of the forum in 2000, the parties have significantly improved their economic ties and China is now Africa’s largest trading partner. The trade volume between China and Africa is expected to exceed $300 billion this year. According to China’s Premier Li Keqiang, China’s investments in Africa will reach $100 million by 2020.
China has been reportedly working on a cooperation package with Africa for a year which includes upgrading industrial structures as well as supporting infrastructure, investments, and small and medium-sized enterprises in the agriculture and manufacturing sectors.
Following the establishment of the forum in 2000, the parties have significantly improved their economic ties and China is now Africa’s largest trading partner. The trade volume between China and Africa is expected to exceed $300 billion this year. According to China’s Premier Li Keqiang, China’s investments in Africa will reach $100 million by 2020.
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