The third China-Africa Economic and Trade Expo has kicked of in Changsha of Hunan province.
The expo welcomes more “Made in Africa” products into China and aims to boost business links between the two sides.
Centered around the theme of “Common Development for a Shared Future,” the four-day event will be attended by representatives from 53 African countries and multiple international organizations.
It will also include a shopping festival, sales via livestreaming and promotions of African products.
Organized under the auspices of the Chinese ministry of Commerce and the government of Hunan province, this exhibition is an ideal opportunity for the Moroccan delegation to examine ways of developing cooperation on the African continent, both with Chinese officials and African partners, in order to support Africa’s economic development.
The annual China-Africa Economic and Trade Expo’s ambition is to establish a new mechanism for economic and trade cooperation between China and Africa, and to serve as a new platform for economic and trade initiatives between the two parties.
This year’s edition features forums on a range of topics, including health cooperation, drug development, and quality infrastructure interconnection.
China is Africa’s largest trading partner and the fourth largest investor in the continent, according to the organizers.
Cooperation between China and African countries is expanding into emerging areas such as digital infrastructure, green development, aviation and space exploration, they added.
The number of exhibitors taking part in this year’s edition has increased by 55% compared to the previous edition, to reach 1,350 exhibitors. The value of potential agreements and other cooperation projects under discussion within the framework of the Expo amounts to 10.7 billion dollars, according to organizers.
According to official data, trade between China and Africa reached 282 billion dollars in 2022, with exports to Africa increasing by 11.2% year-on-year to 164.5 billion dollars, while imports rose by 11% to 117.5 billion dollars.
In the first four months of 2023, Chinese direct investment in Africa reached 1.38 billion dollars, up 24% year-on-year.
