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Home >> China
UPDATED: 07:33, October 27, 2006
China-Angola trade to hit 10 billion U.S. dollars in 2006
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China-Angola trade volume will top 10 billion U.S. dollars this year, a deputy commerce minister said on Thursday.

"The China-Angola cooperation model is working well and bilateral trade is expected to hit 10 billion dollars this year," Chinese Deputy Commerce Minister Wei Jianguo told a briefing on the upcoming Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).

"Angola is now China's biggest trade partner in Africa," Wei said, adding that 9.3 billion U.S. dollars of trade was recorded from January to early October this year.

Since the end of Angola's civil war in 2002, the Chinese government has provided the war-ravaged country with aid and encouraged Chinese companies to invest in Angola to help its post-war reconstruction.

In 2004, China and Angola signed a series of cooperation agreements. According to the agreements, China provides Angola with funds, technology, materials and equipment.

China has also built infrastructure for Angolan agriculture, health, education, transportation, media, power and civic projects.

Angola is a major supplier of oil to China.

"During the upcoming summit, some Angolan entrepreneurs will discuss with their Chinese counterparts how to improve cooperation," Wei said.

China would like to play a bigger role in Angolan post-war reconstruction, Wei said. "Hopefully the China-Angola cooperation model will help improve Angola's economy and people's living standards."

Source: Xinhua


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