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China, Africa sign trade deals

BEIJING: China and Africa on Sunday signed trade deals worth $1.9 billions on the final day of a historic summit that saw the Asian giant deepen economic and political ties with the resource-rich continent.

The leaders of China and 48 African nations wrapped up their two-day meet with a joint declaration announcing a new strategic partnership based on ``political equality and mutual trust, economic win-win cooperation and cultural exchanges.''

``We declare that the development of our friendly relations and cooperation are in accordance with the ... principles of peaceful coexistence,'' Chinese President Hu Jintao said, reading from the declaration.

The declaration and an accompanying ``action plan'' to map their political and economic cooperation over the next three years came after deals between China and 10 African nations worth $1.9 billions were announced.

By far the biggest deal was one involving the building of an aluminium production plant in Egypt worth $938 million, according to a copy of the agreement given to reporters.

Other deals included a $300 million contract for Chinese firms to upgrade a highway in Nigeria, develop a $200 million copper project in Zambia and set up a $60 million textile business in Sudan. Some of the other countries to also sign trade deals with China on Sunday were South Africa, Kenya, Cape Verde and Ghana. — AFP

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