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Sunday, June 18, 2006

China-Africa trade links

June 18 (Reuters) - China's Premier Wen Jiabao said on Sunday his country's relations with Africa were based on mutual benefit and posed no threat to U.S. interests on the continent. Wen was in Egypt, his first stop on a seven-nation tour of Africa.

Here are some key facts about Chinese-African deals and relations:


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

* China's exports to Africa jumped in that year to 36 percent year-on-year to $13.82 billion, while imports, mostly natural resources, surged 81 percent to $15.65 billion, according to Chinese statistics.

-- In 2005, total trade between the Africa and China surged again, to $39 billion, Chinese statistics show. Analysts say the rise was fuelled by increased imports of African oil.


* Africa supplies nearly a third of China's crude oil imports.

* In the first four months of 2006, Angola was second only to Saudi Arabia as a supplier of crude to China.


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.

January 2005 - Angola says it plans to use a $2 billion loan from China to repair its infrastructure. China added another $1 billion to its oil-backed loan in March 2006.

July 2005 - China and Nigeria sign an $800 million crude oil sale deal between Petrochina International and the Nigerian National Petroleum Corporation (NNPC) to supply 30,000 barrels of crude per day to China.

January 2006 - China's top offshore oil producer, CNOOC Ltd., agrees to pay $2.3 billion for a stake in a Nigerian oil and gas field, its largest ever overseas acquisition.

April 2006 - Algeria awards contracts estimated at $7 billion to Japanese and Chinese consortiums to build parts of a 1,300 km (810 mile) highway running from Tunisia to Morocco.

April 2006 - Hu wraps up an Africa tour by concluding an offshore exploration deal with Kenya. The pact allows China's state-controlled CNOOC Ltd to explore in six blocks covering 115,343 sq km in the north and south of Kenya.

-- Two days earlier Beijing struck a $4 billion deal for drilling licences in Nigeria, including grants for economic and technical cooperation, anti-malarial medicine and rice.

May 2006 - Angola's state-run oil company Sonangol announces Sinopec has won a 40 percent stake in a relinquished part of its lucrative offshore oil Block 18 after proposing a $1.1 billion government signature bonus out of a total investment amounting to more than $1.4 billion.
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