Chinese-African trade relations on increase

TRADE links between fast-growing economic powerhouse China and Africa have taken a leap forward since 2004, when Hu Jintao announced a new drive to strengthen relations with the energy and mineral-rich continent.

These are some of the major deals of the last two years: * Jan-Feb 2004 – Total Gabon signs a contract with China’s Sinopec under which Gabonese crude oil will be sold to China for the first time. * June 2004 – Chinese Vice-President Zeng Qinghong tours Tunisia, Togo, Benin and South Africa.Zeng’s visit to South Africa was marked by agreements including a deal opening the way for the export of South African citrus to the Chinese market and letters of intent for two big trade and investment projects.* July 2004 – Jinchuan Group, China’s largest nickel producer, says it has established an office in Johannesburg as part of efforts to buy cobalt, copper, nickel and platinum in southern Africa.* November 2004 – China’s biggest telecoms equipment maker, Huawei Technologies, wins a series of contracts in Africa worth more than US$400 million in total.Huawei says the contracts came from Kenya, Zimbabwe and Nigeria.* January 2005 – Angola says it plans to use a US$2 billion loan from China to repair its infrastructure, which was wrecked during a civil war that ended in 2002.* July 2005 – China and Nigeria sign a US$800 million crude oil sale deal between Petrochina International and the Nigerian National Petroleum Corporation (NNPC) to supply 30 000 barrels of crude a day to China.* August 2005 – China gives Kenya 2,6 billion Kenyan shillings (US$34,32 million) in aid, mainly to modernise its ailing state-run Kenya Power & Lighting Company (KPLC).* Jan 2006 – China’s top offshore oil producer, CNOOC Ltd, agrees to pay US$2,3 billion for a stake in a Nigerian oil and gas field, its largest ever overseas acquisition.* March 2006 – China agrees to add another US$1 billion to its oil-backed loan to Angola.* April 2006 – Eritrea says it signed an accord for a US$23 million loan from China, with which the isolationist Horn of Africa state is boosting ties.* April 2006 – Algeria awards contracts estimated at US$7 billion to Japanese and Chinese consortiums to build parts of a 1 300 km highway running from Tunisia to Morocco.- Nampa-Reuters * Exchange rate: US$1 = N$6,0637* June 2004 – Chinese Vice-President Zeng Qinghong tours Tunisia, Togo, Benin and South Africa.Zeng’s visit to South Africa was marked by agreements including a deal opening the way for the export of South African citrus to the Chinese market and letters of intent for two big trade and investment projects.* July 2004 – Jinchuan Group, China’s largest nickel producer, says it has established an office in Johannesburg as part of efforts to buy cobalt, copper, nickel and platinum in southern Africa.* November 2004 – China’s biggest telecoms equipment maker, Huawei Technologies, wins a series of contracts in Africa worth more than US$400 million in total.Huawei says the contracts came from Kenya, Zimbabwe and Nigeria.* January 2005 – Angola says it plans to use a US$2 billion loan from China to repair its infrastructure, which was wrecked during a civil war that ended in 2002.* July 2005 – China and Nigeria sign a US$800 million crude oil sale deal between Petrochina International and the Nigerian National Petroleum Corporation (NNPC) to supply 30 000 barrels of crude a day to China.* August 2005 – China gives Kenya 2,6 billion Kenyan shillings (US$34,32 million) in aid, mainly to modernise its ailing state-run Kenya Power & Lighting Company (KPLC).* Jan 2006 – China’s top offshore oil producer, CNOOC Ltd, agrees to pay US$2,3 billion for a stake in a Nigerian oil and gas field, its largest ever overseas acquisition.* March 2006 – China agrees to add another US$1 billion to its oil-backed loan to Angola.* April 2006 – Eritrea says it signed an accord for a US$23 million loan from China, with which the isolationist Horn of Africa state is boosting ties.* April 2006 – Algeria awards contracts estimated at US$7 billion to Japanese and Chinese consortiums to build parts of a 1 300 km highway running from Tunisia to Morocco.- Nampa-Reuters * Exchange rate: US$1 = N$6,0637