China fast becoming Africa’s number one import partner

THE PACE of trade growth between China and Africa is likely to continue for the next 10-20 years, with China fast becoming SA’s number one import partner. That’s the view of Safmarine’s Africa region executive Alan Jones who estimates that volumes between Asia and Africa are growing two to three times faster than between Africa and Europe and North America. He believes the global container trade will continue to grow at around 10% per annum and that much of this growth is likely to come from Asia and Africa. “Safmarine has witnessed strong growth in the Greater China Area in recent years. For example, during 2004-2005, we more than doubled our export volumes from the region, and doubled imports into China.” And Jones points out that the strength of China’s trade with Africa is not limited to South Africa. “Volumes between China and West and East Africa are equally strong,” he says. “For example, container volumes carried by Safmarine between China and West and East Africa have doubled in the past two years and countries such as Nigeria, Angola, South Africa and Tanzania in East Africa have been at the forefront of this increased trade.” China is growing at an average rate of close to 10% GDP per annum and Safmarine provides a total of 35 shipping services between the Far East and Africa. “But while Safmarine China, with its combined export and import volume, is one of Safmarine’s top three single markets, Africa as a whole remains Safmarine’s core focus. “The majority of Safmarine’s business is still to and from Southern, West and East Africa.”