The China-Africa Trade Biennale bears fruitful results

China Africa Economic and Trade Exposition (CAETE), June 2023.   –   Copyright © africanews
AFP

By Rédaction Africanews

The third China-Africa economic and trade expo on the theme of common development for a shared future concluded on Sunday in Changsha city, with 10.3 billion U.S. dollars’ worth of projects signed.

Guided by the spirit of the 8th FOCAC Ministerial Conference, the Expo will focus on the “Nine Programs” for China-Africa cooperation and organize various events in various forms, attracting thousands of participants to Changsha, including Chinese and African dignitaries and diplomats, representatives of international organizations, financial institutions, business associations, chambers of commerce, and media, entrepreneurs, experts, and scholars. 

The expo aimed to boost business links between both parties while opening the Chinese market to products Made in Africa.

“The economic and trade cooperation between China and Africa has been expanding from traditional trade and engineering construction to digital, green and financial fields. In particular, the import of agricultural products from Africa shows great cooperation potential. All of these have strongly promoted the high-quality development of economic and trade cooperation between the two sides,” shared Wang Dong, deputy head, Department of Western Asian and African Affairs, Chinese Ministry of Commerce.

The four-day event has attracted over 100 000 visitors and resulted in 74 cooperative projects, a first in the expo’s five-year history, according to statistics from the organizing committee.

African visitors claim that the Chinese market has much to offer their businesses and populations.

“[Chinese clients are] very, very good to deal with because they are very proactive, and they want to do business,” says Buyer from Zambia.

“We can transfer these skills from China to Mozambique, for Africa in general,” added an Exhibitor from Mozambique.

“Chinese equipment and machines are helping African people innovate and start businesses, change their lives, and make their lives more beautiful,” told a Buyer from Benin. 

The China-Africa economic and Trade expo is committed to building a new mechanism for China-Africa economic and trade cooperation, a new platform for the implementation of economic and trade initiative and a new window for Sino-African economic and trade cooperation at the sub-national level. 

China is Africa’s largest trading partner and its fourth-biggest source of investment. Official data show that bilateral trade between China and Africa totaled 282 billion U.S. dollars in 2022.

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