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Sino-African trade to embrace new opportunities

0 Comment(s)Print E-mail Xinhua, June 13, 2012
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Trade between China and Africa, the country's fastest-growing trade partner, is likely to get a boost at an upcoming international trade fair in northeast China, local authorities said Wednesday.

China and Africa enjoy huge potential for cooperation in agriculture. manufacturing, finance and human resources, said Wang Xiankui, governor of Heilongjiang province, where the 23rd China Harbin International Economic and Trade Fair will be held.

Bilateral trade has grown by leaps and bounds in the past two decades, with the trade volume increasing from 10.5 billion U.S. dollars in 1992 to 160 billion U.S. dollars in 2011, Wang said at the Heilongjiang-Africa economic and trade cooperation conference held in the provincial capital Harbin.

Trade between the two sides has grown at an average rate of 27 percent annually, the fastest among all China's trade partners, Wang said.

Rose Francine Rogombe, president of the Senate of Gabon, said that China is an important force driving the development of Africa, and bilateral cooperation has great potential in the services and human resources industries, as well as technical exchange.

The two sides are very complimentary, thus the cooperation can be win-win, she said, adding that she welcomes investment from China to Gabon.

The Heilongjiang-Africa cooperation conference is part of the 23rd China Harbin International Economic and Trade Fair that runs from June 15 to 19. The fair will feature 3,000 exhibition booths, including sections for eco-friendly food, machinery, furniture and tourism as well as special exhibitions for China's Hong Kong, Macao and Taiwan as well as for Russia.

Nearly 1,000 foreign exhibitors have registered for the trade fair, already doubling that of last year, Sun Yao, vice governor of Heilongjiang, said in March.

Official records show that the 2011 fair saw 17.82 billion U.S. dollars worth of overseas-related contracts signed.

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