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    Trade between China and Africa increased 38.2% year-on-year to $ 185.2 billion from January to September 2021.

    China’s direct trade minister, Qian Keming, said trade between China and Africa reached a record high of $ 185.2 billion from January to September this year, up 38.2% year-on-year. Investment in Africa reached $ 2.59 billion during this period, up 9.9% year-on-year.

    Growth is three points higher than China’s overall outbound investment, Qian said, adding that growth was above pre-pandemic levels during the same period in 2019.

    Chinese companies signed new $ 53.5 billion contracts in Africa during this period, up 22.2% year-on-year and sales of $ 26.9 billion, up 11.6% year-on-year, according to official Chinese media.

    China’s direct trade minister, Qian Keming, said trade between China and Africa reached a record high of $ 185.2 billion from January to September this year, up 38.2% year-on-year. Investment in Africa reached $ 2.59 billion during this period, up 9.9% year-on-year.

    The 8th Ministerial Meeting of the Forum on China-Africa Cooperation (FOCAC) will be held in Senegal at the end of November.

    Against the backdrop of COVID-19, 55 FOCAC members have reunited, demonstrating a strong desire for China and Africa to work together, Mr. Qian said.

    Qian believes that this conference will support a comprehensive strategic and cooperative partnership between China and Africa and provide a path to sustainable and quality development of cooperation between China and Africa. He also said it would play a positive role in building communities in China and Africa with a common future in the new era.

    China has maintained its position as Africa’s largest trading partner for 12 consecutive years. Bilateral trade was worth $ 187 billion in 2020.

    In a forum in October, President Xu Wu of the Forum on China-Africa said that since the establishment of FOCAC in 2000, trade between China and Africa and China’s direct investment in Africa have increased 20-fold and 100-fold, respectively. Stated.

    Qian added that since 2000, China has been importing US $ 1.2 trillion commodities from Africa and exporting $ 1.27 trillion commodities to Africa.

    Fiber2Fashion News Desk (DS)

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    Trade between China and Africa increased 38.2% year-on-year to $ 185.2 billion from January to September 2021.

    Source link Trade between China and Africa increased 38.2% year-on-year to $ 185.2 billion from January to September 2021.

    The post Trade between China and Africa increased 38.2% year-on-year to $ 185.2 billion from January to September 2021. appeared first on Eminetra.

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