China-Africa Trade: Ten major cooperation plans set robust growth in trade ties

World
Europe

Indeed China's trade with Africa has continued to surge in the first half of the year 2019. According to statistics from the Ministry of Commerce of the People's Republic of China, trade between China and Africa has been growing robustly since the launch of the ten major cooperation plans three years ago. CGTN's Daniel Arapmoi has more in this report.

China is currently Africa's largest trading partner, surpassing the United States as the Asian country continues to export mainly machinery, electronics and textiles.

Between 2016 and 2018, Africa's exports to China increased from 36.8 billion dollars to 73.1 billion with trade deficit declining from 40.6 billion to 20.1 billion dollars over the same period.

DR ADAMS OLOO ANALYST "I think one of the areas that China has invested in that the west was not heavily investing in is in infrastructure and therefore the belt and road initiative is one such areas. If you are to look at investment in the Railway line, telecommunication, in stadiums and the like then you would say that China has taken the lead."

Though imports from China grew from 75.5 billion to 94.2 billion over the same period, import substitution supported in part by Chinese companies has incredibly improved in favor of Africa.

DR ADAMS OLOO ANALYST "I think what one can say about Africa China relations is that it gave Africa an opportunity to diversify its economies."

According to statistics from the General Administration of Customs of China, between January and February, China's total import and export volume with Africa stood at 32.16 billion dollars, up 3.5% year on year, exceeding the overall growth rate of foreign trade in the same period by 7.4 percentage points.

Daniel Arapmoi, CGTN Nairobi Kenya.