China on Monday opened a research center dedicated to the studies of Sino-African economic and trade cooperations, an official with the country’s Ministry of Commerce (MOC) said.
The China-Africa Research Center, was set up by the Chinese Academy of International Trade and Economic Cooperation, an institute under the MOC, said Huo Jianguo, President of the Academy.
The center aims to provide a theoretical basis for the Chinese government’s Africa-related decision makings. It will also provide consultation services for companies with plans to expand their businesses to Africa, Huo said.
Economic and trade cooperation between China and Africa has steadily increased in recent years, Huo said.
Trade between China and Africa had risen from 10 billion U.S. dollars in 2000 to 106.8 billion U.S. dollars in 2008, an average annual growth of more than 30 percent, according to MOC data.
Trade between China and Africa, which declined 15 percent in 2009 due to the global financial crisis, is set to return to fast growth again this year, Huo said.