Mutual win: A farmer spreads out Liberica coffee cherries to dry in Uganda. Growing cooperation between China and Africa will create a conducive environment for businesses to expand their operations, thus creating jobs and fostering growth. — Bloomberg
BEIJING: Economic and trade ties between China and African countries will be further enriched on the back of an improving business environment of both sides that will enable companies to engage in each other’s markets.
This, in turn, will help maintain the stability of global industrial and supply chains in the years ahead, government officials and business leaders said after the conclusion of a key expo.
They also said growing cooperation between the two sides will create a conducive environment for businesses to expand their operations, thus creating jobs, fostering growth and driving green development.
Both China and Africa can work toward a win-win as China’s remarkable success in pursuing high-quality development and achieving sustained economic growth can inspire African countries, said Ashish Shah, director of country programmes at the Geneva-based International Trade Centre.
He said this at a seminar during the third China-Africa Economic and Trade Expo, which concluded in Changsha, the capital of Hunan province, last Sunday.
Agreements for 120 projects valued at US$10.3bil (RM48bil) were signed during the four-day expo, according to the organisers.
And 99 cooperation projects valued at US$8.7bil (RM41bil) were announced, including 74 big-ticket projects involving 11 African countries – the highest number ever recorded.
The event attracted 1,700 foreign and over 10,000 domestic attendees – another record. The cumulative value of expressions of intent for transactions was US$400mil (RM1.87bil), said Hunan’s provincial department of commerce.
The exhibition showcased 29 African countries’ products spanning 1,600 categories, up a staggering 166% from the previous edition.
Government officials and business executives who attended the expo said they were keen to explore potential opportunities across various sectors, including agriculture and energy.
They also said the platform had helped expand trade relations between China and African countries, facilitating valuable exchanges and fostering mutual growth.
Solomon Telila, minister of the embassy of Ethiopia in Beijing, said China had notable advantages in the field of new energy and stands well-positioned to assist African nations in establishing various renewable energy projects, including solar power plants, wind farms and hydropower initiatives.
These collaborative endeavours hold the potential to enhance the quality of life of people in Africa, said Telila. — China Daily/ANN
