WUHAN -- Industry and
commerce delegates from 21 African countries have forged cooperation agreements
with Chinese enterprises in construction, mine development and other sectors
during a promotion fair in central China.
The delegates, including 49 high-ranking trade officials and business people,
brought more than 100 investment projects in infrastructure, mine development,
machinery and agriculture to the three-day fair in Wuhan, capital of Hubei
Province in central China.
The fair attracted around 500 Chinese companies.
Algeria, in north Africa, planned to seek investment partners in a number of
government projects in housing, expressways, railways and dams. The projects
involved a total investment of 100 billion US dollars.
The industry and commerce chambers of seven African countries also signed a
two-year cooperation agreement on Wednesday with the Wuhan Branch of the China
Council for the Promotion of International Trade to enhance exchanges between
African and Chinese enterprises.
Mohamed El Mamy, secretary-general of the Mauritania Chamber of Commerce and
Industry, said, "The exchange projects between us and Chinese trade officials
will build a bridge for the communications of enterprises of the two sides."
A representative with Quanzhou Wanlong Building Materials Development Co.
Ltd, based in east China's Fujian Province, said his company had decided to
cooperate with Mali, in western Africa, in paper box production.
African delegates also expressed a willingness to cooperate with Chinese
automobile and cable production companies.
Investment from China to Africa is expected to reach 2 billion US dollars in
2007, said Donald Kaberuka, president of the African Development Bank.
Official figures from China show Chinese investment in Africa totaled 11.7
billion US dollars by the end of 2006.
Last month, Chinese government launched a fund of 1 billion US dollars to
finance trade and investment by Chinese companies in Africa, in a fresh effort
to facilitate Sino-African business relations.
Trade volume between the two sides hit 55.5 billion US dollars last year,
maintaining an annual growth rate of more than 30 percent in the past five