Standard Chartered opens Africa-Asia trade desk

Standard Chartered has established a specialist Africa-Asia business unit to exploit the growing trade links between the two continents. The office will provide a key central point for clients seeking investment opportunities, particularly in the energy, mining and power sectors and aid Asian companies needing strategic advice on the financial infrastructure and credit environment in Africa.

The desk will be based at the bank's regional office in Dubai. Standard & Chartered already operates a network of branches and operations in salient markets across Asia, Africa and the Middle East.

In a statement, Standard and Chartered states that trade between Africa and Asia exceeded US$120bn in 2007, and quotes Jonathan Morris, head, origination and client coverage, wholesale bank Africa as commenting that trade between Africa and China alone now totals US$75bn after annual compound growth of 43% for the last 5 years.