China, UK launch study on African trade

China and the United Kingdom launched a joint study on Wednesday to explore the potential of enhancing the trade performance of African countries and its development impact.

The study will be conducted by the Institute of Development Studies of the UK and the Chinese Academy of International Trade and Economic Cooperation, a think tank of the commerce ministry.

The first set of studies will focus on four countries: Ethiopia, Kenya, Nigeria and South Africa, said Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation.

The research will address three topics: the impact of trade on growth and poverty reduction in each country and the role of Chinese and UK trade, investment and aid-for-trade; challenges and key constraints to increased beneficial trade, including supply-side constraints and barriers to Chinese and UK/EU markets; and potential and priority for China-UK cooperation in strengthening African trade performance and poverty reduction, including on policy, aid-for-trade, investment and business-to-business collaboration.

Liu Guijin, first special representative of the Chinese government on African Affairs and dean of the China-Africa International Business School at Zhejiang Normal University, said China-Africa trade grew very fast in recent years, but the key point is to make the trade more value-added for Africans and to help them benefit more directly.

China-Africa trade in 2013 rose 5.9 percent year-on-year to $210.24 billion, according to the General Administration of Customs. China’s exports to Africa reached $92.81 billion, up 8.8 percent, while its imports increased 3.7 percent to $117.43 billion, leaving a trade deficit of $24.62 billion.

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