The recently concluded third China-Africa economic and trade expo, which centered around the theme of common development for a shared future, has yielded promising results. The event, held in Changsha city, saw the signing of projects worth a staggering $10.3 billion, showcasing the growing economic partnership between China and Africa.
The expo, guided by the spirit of the 8th FOCAC Ministerial Conference, brought together thousands of participants, including Chinese and African dignitaries, diplomats, representatives of international organizations, financial institutions, business associations, chambers of commerce, media, entrepreneurs, experts, and scholars. With a focus on the “Nine Programs” for China-Africa cooperation, the expo organized various events to facilitate business links and promote the Chinese market for products Made in Africa.
Wang Dong, the deputy head of the Department of Western Asian and African Affairs at the Chinese Ministry of Commerce, emphasized the expansion of economic and trade cooperation between China and Africa. He highlighted the shift from traditional trade and engineering construction to digital, green, and financial fields. Importantly, the import of agricultural products from Africa presents significant cooperation potential, contributing to the high-quality development of trade between both parties.
Statistics from the organizing committee revealed that the four-day event attracted over 100,000 visitors and resulted in the establishment of 74 cooperative projects, a first in the history of the expo. African visitors expressed their optimism about the opportunities presented by the Chinese market.
Buyers from Zambia commended Chinese clients for their proactive and business-oriented approach, stating that they are “very, very good to deal with.” They recognized the potential for skills transfer from China to Mozambique, benefitting the entire African continent.
Exhibitors from Mozambique emphasized the impact of Chinese equipment and machines on innovation and entrepreneurship in Africa. They highlighted how these technologies have helped African people change their lives and create businesses, ultimately making their lives more prosperous and vibrant.
The China-Africa economic and trade expo aims to establish a new mechanism for economic cooperation, serving as a platform for the implementation of economic initiatives and a window for sub-national Sino-African economic and trade collaboration.
China holds the distinction of being Africa’s largest trading partner and the fourth-largest source of investment. Official data reveals that bilateral trade between China and Africa exceeded $282 billion in 2022.
The fruitful outcomes of the China-Africa Trade Biennale underscore the growing economic ties between China and Africa. This continued cooperation not only brings economic benefits but also facilitates knowledge exchange, technology transfer, and innovation, contributing to the long-term development and prosperity of both regions.
