The third China-Africa economic and trade exhibition, which took place in the city of Changsha on Sunday and had the subject of “common development for a shared future,” came to a close with the signing of projects totaling 10.3 billion United States dollars.
The 8th Forum on China-Africa Cooperation (FOCAC) Ministerial Conference will serve as inspiration for the China-Africa Expo, which will centre on the “Nine Programmes” for China-Africa cooperation and organise various events in various forms. The Expo is expected to draw thousands of participants to Changsha, including dignitaries and diplomats from China and Africa, as well as representatives of international organisations, financial institutions, business associations, chambers of commerce, and the media, as well as entrepreneurs, experts, and scholars.
The purpose of the expo was to strengthen economic ties between both sides while also introducing African-made goods to the Chinese market. The economic and trade cooperation between China and Africa has been extending from traditional commerce and engineering and construction industries to digital, green, and financial fields over the past several years. Particularly indicative of the possibilities for fruitful collaboration is the importation of agricultural goods from African countries.
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According to Wang Dong, deputy head of the Department of Western Asian and African Affairs at the Chinese Ministry of Commerce, all of these factors have significantly contributed to the strong promotion of the high-quality development of economic and commercial cooperation between the two sides. According to statistics provided by the organising committee, the event that lasted for four days brought in more than 100,000 attendees and led to the formation of 74 collaborative projects, marking a first in the expo’s five-year existence.
Visitors from Africa assert that the Chinese market has a lot to offer their countries’ economies as well as their inhabitants. A buyer from Zambia shared their experience, saying, “[Chinese clients are] very, very good to deal with because they are very proactive, and they want to do business.” An additional exhibitor from Mozambique remarked that “we can transfer these skills from China to Mozambique, as well as to Africa in general.”
“Chinese equipment and machines are helping African people innovate and start businesses, change their lives, and make their lives more beautiful,” said a Buyer from Benin. “Chinese equipment and machines are helping make the lives of people in Africa more beautiful.”
The China-Africa Economic and Trade Expo is devoted to developing a new mechanism for China-Africa economic and trade cooperation, a new platform for the implementation of economic and trade initiatives, and a new window for Sino-African economic and trade cooperation at the sub-national level. These three goals will be accomplished through the construction of a new platform.
China is Africa’s most important trading partner and ranks as the continent’s fourth-largest source of foreign direct investment. According to the most recent available statistics, the value of two-way trade between China and Africa in 2022 amounted to a total of 282 billion dollars.
