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Trade to top China-Africa summit | Trade to top China-Africa summit |
(about 2 hours later) | |
More than 40 African heads of state have gathering in Beijing for a summit with China on trade and investment. | |
"We take great pride in China's strong and warm friendship with Africa," said Chinese Vice Premier Wu Yi at the opening of the conference. | |
As its economy booms, China's drive to buy African oil and other commodities has led to a big increase in two-way trade, worth $42bn (£22bn) in 2005. | As its economy booms, China's drive to buy African oil and other commodities has led to a big increase in two-way trade, worth $42bn (£22bn) in 2005. |
Africa is also a growing market for Chinese goods. | |
But critics say Beijing is stifling African manufacturing. | |
The West has also expressed concern that China is doing business with repressive regimes in countries such as Sudan. | |
But some analysts have said Africa is the only place left to go, as most of the world's other big oil reserves are already being developed by major western energy companies. | |
New deal hopes | New deal hopes |
The three-day summit celebrates 50 years of diplomatic relations between China and Africa. | |
It opens with talks between foreign ministers from at least 45 African nations and China. | It opens with talks between foreign ministers from at least 45 African nations and China. |
But the discussions will primarily be about the rapidly expanding economic ties between the two sides. | |
Trade between China and Africa has increased 10-fold since 1995. | |
Officials have said that up to 2,500 separate business deals could be under discussion during the summit. Many of them are expected to revolve around China's hunger for African mineral resources, particularly oil. | |
One of those taking part in the summit is President Obasanjo of Nigeria - Africa's biggest exporter of crude oil. | One of those taking part in the summit is President Obasanjo of Nigeria - Africa's biggest exporter of crude oil. |
'Exploitation' | 'Exploitation' |
Some critics have voice concerns over how Chinese-owned firms are treating African workers. | Some critics have voice concerns over how Chinese-owned firms are treating African workers. |
Protests broke out in Zambia in July about the alleged ill-treatment of workers at a Chinese-owned mine, and there have been reports of pay disputes in Namibia. | Protests broke out in Zambia in July about the alleged ill-treatment of workers at a Chinese-owned mine, and there have been reports of pay disputes in Namibia. |
China's supporters point to the fact that it has invested billions of dollars in aid, cheap loans and helping to upgrade roads, ports, railways, telephone lines, power stations and other key infrastructure across Africa. | China's supporters point to the fact that it has invested billions of dollars in aid, cheap loans and helping to upgrade roads, ports, railways, telephone lines, power stations and other key infrastructure across Africa. |
Often, Chinese money is funding projects that western investors had deemed too risky. | Often, Chinese money is funding projects that western investors had deemed too risky. |
Many economists argue that overall, China's growing economic ties to Africa are benefiting the region. | Many economists argue that overall, China's growing economic ties to Africa are benefiting the region. |