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Adopting various measures to push forward the economic and trade relations between China-Africa

2005-01-06

Encouraged by "Going out " strategy, investment from China to Africa has seen steady increase. China should adopt more measures to push forward the new development of China-Africa economic and trade relations.

An Official of Department of Western Asian and African Affairs of MOFCOM pointed out that the two economies are strongly complementary to each other and see great potential. At present, China has signed "Bilateral Trade Agreement" with 41 African countries to offer Most Favored Nation Treatment for each other. China government would adopt various measures to promote trade and economic relations between China and Africa.

--Taking positive measures to facilitate African products to enter China market; and to give zero tariff treatment to part of exports from "Least Developing Countries" in Africa to enlarge the trade scale and optimize the trading structure. China would like to sign Free Trade Agreement or Regional Trade Assignment with African Countries and regional organizations.

--Africa is one of regions China government encourages enterprises to make investment. Chinese government will formulate and perfect related policy, simplify investment procedures, enhance guide and service, and support powerful enterprises to invest in Africa; will continue to sign and carry out "Bilateral agreement to encourage and guarantee investment" and " Avoiding Double Taxation " to safeguard the legal rights of both investors.

--Encouraging China's finance institutions to setup branches in Africa for providing effective financial service for China-Africa Trade.

--Strengthening information service system to create conditions to exploit African market.

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