China-Africa Trade Fair: Contracts Worth Over 19 Billion Dollars Expected

jihane rmili
jihane rmili
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A report published on the sidelines of the Sino-Africa Economic and Trade Expo held in Hunan has revealed that the exhibition is expected to be crowned by the conclusion of contracts worth more than 19 billion dollars.

For the Chinese government, the exhibition, which kicked off on Thursday, offers a platform for expanding economic and trade exchanges between China and Africa, without forgetting the human aspects of exchanges between the two parties.

According to figures published on Friday, trade between China and Africa has increased by almost 30% over the last 10 years, making China the continent’s leading trading partner.

According to the data, this trade totaled 268.4 billion dollars in 2022, compared with 210.2 billion in 2013. China’s direct investment in Africa doubled between 2013 and 2022, rising from 26.19 billion dollars to 44.19 billion.

At the opening of the exhibition, the Chinese vice-president, Han Zheng, expressed his country’s willingness to strengthen cooperation with Africa.

Over the past decade, regardless of changes in the international situation, China and Africa have always maintained friendly relations, said Mr. Han, emphasizing that China firmly supports Africa’s development efforts.

He indicated that Beijing would continue its efforts to advance China-Africa cooperation within the framework of the “Belt and Road” initiative, to forge a closer partnership. China-Africa cooperation plays an important leading role in South-South cooperation, as well as in international cooperation, and represents a model for building a new type of international relations, he said.

The Sino-Africa Trade Fair, which is held every two years, aims to promote high-quality economic and trade cooperation between the two sides. It seeks to be an important economic and trade platform within the framework of the Forum on China-Africa Cooperation (FOCAC).

The number of exhibitors at this year’s event, which is being held under the theme “Common development for a shared future”, is expected to increase by 55% compared to the last exhibition, to reach 1,350, according to the organizers.

It should be noted that Morocco will be represented at the exhibition by a delegation led by the Minister of Industry and Trade, Ryad Mezzour. A digital stand is being set up to highlight the Kingdom’s African leadership in the economic, commercial, and environmental fields, with particular emphasis on the automotive, renewable energies, pharmaceuticals, and textiles sectors.

Jihan Rmili

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