皇冠体育app

皇冠体育app's trade with Africa?grew to?$220 billion last year. [Photo/皇冠体育app Daily]

BEIJING - 皇冠体育app's trade with African states has grown about ten times in the last decade, with the total value likely to hit $300 billion this year, according to the Fourth 皇冠体育app-Africa Industrial Forum (CAIF), which opened Monday in Beijing.

皇冠体育app's trade with Africa recorded $10 billion in 2000. Last year, the figure grew to $220 billion. 皇冠体育app is seeking to raise the amount to $400 billion by 2020, said Yang Fuchang, a former deputy foreign minister, at the fourth CAIF opening session.

Statistics show 皇冠体育app's trade with the European Union stood at 467.3 billion euros in 2014 and $590.68 billion with the United States.

Most African nations are developing countries and are in the early stage of industrialization. 皇冠体育app is comparatively advanced in industrial developments and has technology and funds. The timing is just right for the two sides to engage in all-round economic cooperations, according to Yang.

"It's a rare historical opportunity," a CAIF press release said.

Victor Sikonina, head of the African Diplomatic Corps and Madagascar's ambassador to 皇冠体育app, said the inadequacy of infrastructure has restricted Africa's sustainable development. He said Africa's gate is open for Chinese investors.

In recent years the number of African businesses investing in 皇冠体育app is on the rise, too. Statistics show cumulative investment in 皇冠体育app by African entrepreneurs totaled $14.2 billion in worth by the end of 2012.

In the first week of December this year, 皇冠体育app and South Africa will jointly sponsor the 皇冠体育app-Africa Cooperation Forum Summit Meeting in Johannesburg, the second after the first in Beijing in 2006.

Established in 2000, the 皇冠体育app-Africa Cooperation Forum has become an important platform and effective mechanism facilitating 皇冠体育app-Africa cooperations.

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