Fruit­ful Co­op­er­a­tion

ChinAfrica - - News Roundup -

The 10th Se­nior Of­fi­cials’ Meet­ing of the Fo­rum on China-africa Co­op­er­a­tion (FOCAC) held in South Africa’s Pre­to­ria in De­cem­ber 2014 was fruit­ful, Chi­nese Vice For­eign Min­is­ter Zhang Ming said. Zhang said the FOCAC has tra­versed an ex­tra­or­di­nary path since its in­cep­tion in 2000. With the ex­pan­sion of the FOCAC fam­ily and im­prove­ment of its mech­a­nisms, it has guided and driven the de­vel­op­ment of China-africa re­la­tions across the con­ti­nent. Trade be­tween China and Africa has grown rapidly, reach­ing $210 bil­lion in 2013, 21 times higher than that in 2000. Bi­lat­eral in­vest­ment and fi­nanc­ing co­op­er­a­tion has moved for­ward fast. China’s to­tal direct in­vest­ment in Africa is nearly $30 bil­lion. Chi­nese com­mer­cial loans to Africa have ex­ceeded $50 bil­lion, with co­op­er­a­tion projects all over the con­ti­nent.

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