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Sino-African trade volume topped US$40.5 billion for the January to September period, and is expected to reach US$50 billion by the end of the year, Wei Jianguo, vice minister of commerce, told a news briefing yesterday on the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).

Since the establishment of the FOCAC in 2000, China and African countries have developed trade and economic cooperation on the basis of equality and mutual benefit. Bilateral trade volume increased from US$4 billion in 1995 to US$39.7 billion in 2005, representing an average yearly growth of 30 percent.

Of the US$40.5 billion trade volume achieved as of September 2006, imports accounted for US$21.8 billion, and exports for US$18.7 billion, Wei said.

To promote imports from African countries, the Chinese government announced a zero tariff policy applicable to certain imports from the most underdeveloped African countries that have diplomatic relations with China. The announcement was made at the Second Ministerial Meeting of FOCAC in December 2003.

So far, 190 categories of goods imported from 28 African countries enjoy this zero tariff treatment.

In addition, China applies a "most-favored-nation" clause to 41 African countries.

Africa exports mainly oil, gas, mineral, agricultural and aquatic products, and imports electrical machinery, light industry equipment, textiles and household appliances.

The upcoming FOCAC will host the largest and highest-leveled group dialogues between Chinese and African leaders since the establishment of diplomatic relations, and will have far-reaching influence on Sino-African relations, Wei said.

In addition, from November 6 to 7, the first African Products Exhibition will be held at Beijing International Convention Center. More than 100 enterprises from Egypt, Guinea, Ghana, South Africa and 20 other African countries will participate in the exhibition, which showcases a range of products from various industries including architecture, paper pulp, timber, agricultural products, food and handicrafts in more than 200 booths in the 3,500-square-meter exhibition hall.

All 48 African member states have confirmed their attendance at the FOCAC in Beijing, which will welcome more than 1,700 African delegates. An estimated 1,100 journalists, some 300 from Africa, have registered to cover the summit.

(China.org.cn by staff reporter Li Shen, October 27, 2006)