Text Only
Search

 
China, Africa Sign Nearly $2 Billion in Trade Agreements

05 November 2006

President Hu Jintao, right, shakes hands with Benin President Yayi Boni during the welcoming ceremony for the Beijing Summit
President Hu Jintao, right, shakes hands with Benin President Yayi Boni during the welcoming ceremony for the Beijing Summit
Officials in Beijing say Chinese and African firms have signed trade agreements worth nearly two billion dollars, further strengthening China's ties to the resource-rich continent.

The agreements were announced Sunday near the end of a two-day summit involving top officials from almost every African nation. The agreements include 16 separate deals between Chinese companies in 12 African nations.

Trade between China and Africa's 53 countries has skyrocketed in the past decade and is expected to reach 50 billion dollars this year.

Chinese Premier Wen Jiabao says China's outreach to Africa is sincere, unselfish and has no political conditions attached.

Some labor groups in Africa have criticized the relationship. They say Chinese companies treat workers poorly and flood local markets with low-cost manufactured goods. Humanitarian groups also have accused China of selling arms to repressive governments.

U.N. Secretary-General Kofi Annan praised China Saturday for offering billions of dollars in aid and loans to the largely impoverished continent.

Chinese President Hu Jintao has pledged to double aid to Africa, and he has offered the continent five billion dollars in loans and credits over the next three years.

Some information for this report provided by AP, AFP and Reuters.

emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Related Stories
China Opens Huge Africa Summit with Pledges of $5 Billion
China Defends Decision to Invite Sudan, Zimbabwe to Africa Summit
Experts Warn China Forging Ties with Africa's Pariah States
 
  Top Story
UN Security Council Adopts Gaza Cease-fire Resolution

  More Stories
US Studies Withdrawing More Troops from Iraq  Audio Clip Available
UN Agency Suspends Aid Deliveries in Gaza Because of Violence  Audio Clip Available
Obama Warns of Severe Consequences Without Stimulus Package  Audio Clip Available
Russia Agrees to Gas Pipeline Monitors
Suicide Bomber Attacks Foreign Troops, Kills Civilians in Afghanistan
Recession Woes Again Batter World Markets  Audio Clip Available
Sri Lankan Military Presses Ahead with Offensive  Audio Clip Available
Diplomatic Activity Builds to Halt Eastern Congo Clashes  Audio Clip Available
Lawyers Want Charges Dropped Against Zimbabwe Activists  Audio Clip Available
Obama's Choice to Head US Health Agency Vows Reform  Audio Clip Available
Diplomat Cites Bush Efforts to Strengthen Sino-American Ties  Audio Clip Available
Africans Await Obama Inauguration with Mixed Expectations  Audio Clip Available
Two Chinese Cities Offer Incentives to Attract Overseas Professionals  Audio Clip Available
Immigrant Filmmaker Travels Rocky Road in Hollywood  Audio Clip Available