China, Africa sign deal to check counterfeits

China has signed bilateral agreements with African countries in order to prevent its companies from selling substandard goods to Africa and other foreign markets.

Chinese Vice Minister for Commerce (Africa Relations in China), Mr Keming Quian revealed this at a press conference on the sidelines of the Fifth Session of 12th National People Congress (NPC).

He said his ministry was in the process of facilitating business companies to uphold standards of their products to prevent them from selling substandard goods to foreign markets.

“To overcome this problem (of substandard goods), Africa and China Signed the Agreement which will also see the business and investments having social responsibility roles in developing human resources” He said.

Mr Quian said that last year, Chinese companies invested 3.2bn US dollars in various sectors of the economy in Africa such as manufacturing and larger private investments.

He noted that commercial cooperation between Africa and China was mutual as China regards Africa as a market of its products and source of raw materials and that is why it will invest heavily in the continent, in order help create jobs and local expertise.

He cited examples of the construction of railway line from Addis Ababa to Djibouti and Tanzania and Zambia Railway Authority (TAZARA) as some of investments in Africa. Vice Minister for Commerce, Wang Shouwen was confident of increased foreign direct investment (FDI) in 2017.

The Minister for Commerce, Zhong Shan said, trade war between China and the United States was not in the best interest of the two countries and will bring nothing but harm. He said cooperation was the ‘only right choice,’ and that the two countries should work together to enhance cooperation and manage differences so as to boost bilateral commercial relations.

Mr Zhong said the two countries, whose interests were closely interwoven, have seen their economic and trade relations on the right path since they forged diplomatic ties. He expressed his belief that the two countries’ leaders will make right judgment on bilateral trade ties, pledging efforts to guide China- US economic and trade ties in the right direction.