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Business News of Sunday, 5 November 2006

Source: Xinhua

China to expand imports from Ghana: Premier

China will work actively to expand imports of processed goods from Ghana, rein in its own trade surplus and gradually maintain trade balance, Premier Wen Jiabao told visiting Ghanaian President John Kufuor Saturday.

China is willing to intensify trade and economic cooperation with Ghana under the principles of equality, mutual benefits and complementarity, Wen said.

"We'll encourage Chinese businesses to invest in Ghana and will continue to boost cooperation in communications, infrastructure construction and human resources development," the premier said.

He said China and Ghana enjoy a traditional friendship and have registered new progress in all-round cooperation in recent years.

"Ghana is an important partner of China in Africa," said Wen, adding that bilateral ties will be further cemented with the concerted efforts from the two sides.

Kufuor thanked China for its long-term support and assistance. Chinese companies have won the praise and confidence of the Ghanaian people with their efficiency and good quality demonstrated in Chinese contracted projects in Ghana, he said.

The president said Ghana wishes to expand cooperation with China particularly in hydropower and infrastructure projects.

Kufuor is here for the Beijing Summit of the Forum on China- Africa Cooperation (FOCAC) that opened here Saturday morning. Chinese President Hu Jintao met him on Friday.

Ghana and China restored diplomatic relations in February 1972.

Kufuor visited China in 2002, while Wen visited Ghana in 2006.

China now ranks as the second largest exporter to Ghana, after Nigeria, with bilateral trade reaching 769 million U.S. dollars in 2005.