Trade between China and Sierra Leone is limited. It has increased rapidly since the end of the war in Sierra Leone, but in 2006 China only accounted for US$ 980,000 in imports and although it increased dramatically in 2007, it reached only modest US$5.7 million, which was approximately 1% of total SL Export (estimated from 2006 figures) and the corresponding figure for SL Import was 7.7% in 2006. (CIA World Fact Book)
China’s efforts in Sierra Leone are of another kind. In 2005, investments were made to rebuild Sierra Leones largest hotel, as well as build new tourist facilities. The Chinese are going to build a malaria hospital as well as two schools and provide scholarships allowing Sierra Leoneans to study in China. Chinese experts are also to help in agricultural development, improving the growing of rice.
Chinese people have opened up a number of small businesses in Sierra Leone, providing employment and supplying different varieties of goods.
After writing off Sierra Leonean loans worth US$22 million in November 2007, the two countries signed an agreement on economic and technological cooperation in January of 2008, granting Sierra Leone interest-free loans. The same month, the Chinese ambassador said China would send electricity experts to explore the possibility of building small power stations in the provinces.
However, everything is not positive. In January 2008, authorities had to ban timber exports after Chinese and other foreign loggers had indiscriminately cut down trees for export. Timber presents a problem in Sierra Leone as it is often illegally logged and smuggled out of the country or exported as is, robbing the country of value addition.
Chinese embassy in Sierra Leone
| Sierra Leone’s natural resources | ||
|---|---|---|
| Oil | Coffee | Cocoa |
| Platinum | Natural gas | Gold |
| Chromite | Rutile | Bauxite |
| Diamonds | Iron | |
| Chinese piece of Sierra Leone Import/Export: 7.7%/ ? (2006) | ||