African trade with China growing

African trade with China has grown remarkably with the continent's exports rising by 72 percent in 2005, dwarfing the 30 percent increase in African exports to its traditional trade corridors to Europe, said the Africa Focus of Standard Chartered bank in Lusaka on Wednesday.

The total trade between China and Africa reached 40 billion U.S. dollars in 2005, in a sharp contrast with four billion dollars in 1995, according to the bank.

To facilitate the trade with Africa, China has scraped tariffs on 190 types of imported goods from 28 of the least developed African countries, the bank said.

It added that Africa exports to China consist of oil, timber and cotton while China's exports to Africa comprise mainly machinery, electronics, textiles and hi-tech products.

African service sector is set to be boosted by the growing number of Chinese tourists in Africa.16 African countries have been destinations of Chinese tourists, the bank said. In 2005, 110, 000 Chinese tourists traveled to Africa, doubling the number in 2004.

Source: Xinhua