The Jinhua supply and marketing cooperative in Jinhua, East China's Zhejiang province, signed a framework agreement on China-Africa strategic cooperation on a barter trade logistics park with China Railway 14th Bureau Group Co Ltd on Dec 28.
The project, worth over 10.6 billion yuan ($1.66 billion), will land in Jinyi new district in Jinhua, covering an area of 300-500 mu (20-33 hectares).
Africa is the city's largest export market. From January to November this year, Jinhua's foreign trade with Africa reached 84.77 billion yuan, up 16.3 percent year-on-year and accounting for 5.7 percent of the country's total foreign trade with Africa.
Barter trade with Africa can increase the cash available in the African market and reduce trade costs for enterprises.
Next, the two sides will take advantage of the China-Tanzania logistics park to speed up the integration of domestic and overseas market platforms and industrial cooperation and help build a "green channel" for African agricultural products to be exported to China.
