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 "China's exports to Africa have grown five times faster than those of the EU," said Standard Chartered Head of Trade, Sales and Supply Chain in East China, James Jiang. He was discussing the opportunities of trading from China with managing directors of top local trading companies during a Botswana - China trade business forum in Gaborone on Tuesday. His assertions are contrary to a widely - held perception that the European Union (EU) is Africa's biggest trading partner. "China's exports are the fastest growing in the world," said Jiang adding that the bank he heads in China liaises with Standard Chartered Bank in Botswana to facilitate trade between the two countries. "Standard Chartered has initiated to facilitate trade between Botswana and China." Jiang explained that with the assistance of numerous Standard Chartered offices in China, Sino-Africa trade flow would be facilitated amicably. Trade between China and Africa is historical and the Standard Chartered Bank comes along as a facilitator of this trade. Standard Chartered has 11 branches and six agencies in Botswana, 29 in Zimbabwe and 17 in South Africa. Jiang told participants that trade flow from Africa grew in the last decade from US$6 billion (about P32.7 billion) to US$38 billion (about P201.7 billion). In the previous year, exports from China to Africa amounted to US$18 billion (about P99 billion). Botswana has had its fair share of US$58 million (about P316 million) in 2005. Jiang revealed that China is on an ambitious plan to establish a free trade agreement with Africa modelled in the fashion of the EU's Economic Partnership Agreements (EPAs). "China also plans to establish China-Africa Joint Chamber of Commerce and Industry," Jiang added. Under the EU, EPAs are expected to bring over 7 billion Euros (about P46 billion) to the African Caribbean Pacific region, while China alone is expected to bring over US$18 billion (about P99 billion). China's growing ambition to trade with Africa was furthered in April this year during the Chinese President, Jiang Zemin's visit to four African states.
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