China Africa Economic and Trade Cooperation Accelerates Progress

China and Africa are a community of shared destiny and a community of mutual benefit through cooperation, and their cooperation has enormous potential and broad prospects. Since the beginning of this year, China Africa economic and trade cooperation has accelerated. According to data from the General Administration of Customs, from January to April, the import and export volume between China and Africa reached 648.25 billion yuan, a year-on-year increase of 17.5%. Among them, exports to Africa reached 404.71 billion yuan, a year-on-year increase of 36.9%; RMB 243.54 billion from non imports.
Strengthening all-round cooperation between China and Africa
The economic and trade cooperation between China and Africa has developed rapidly in recent years, especially after the adjustment of China's epidemic prevention and control measures, the import and export volume between China and Africa has significantly increased, which is also due to the strong economic and trade complementarity between the two sides. Wang Yiwei, a member of the Expert Committee of the China Council for the Promotion of International Trade and the Director of the Institute of International Affairs at Renmin University of China, stated in an interview with a reporter from China Trade News that China and Africa are currently strengthening comprehensive cooperation, starting from China's export of industrial products to Africa Manufactured goods, Africa's export of raw materials and energy to China has led to the development of various aspects such as trade, investment, engineering, infrastructure, and financing. From government driven and foreign aid to a significant increase in private capital investment, from national cooperation to strengthened local cooperation, such as the upcoming Third China Africa Economic and Trade Expo in Changsha, Hunan.
Tahyana Lazanamahaifa, the head of public relations at the Indian Ocean Trading Company in Madagascar, an exhibitor of this year's exhibition, said that the company will showcase agricultural products such as vanilla and peanuts at the exhibition. As a partner in promoting Chinese hybrid rice in Madagascar, the company hopes to engage in more cooperation with China in fields such as agricultural mechanization and hybrid rice seed production. Patrick Nyangueso, CEO of the National Federation of Industry and Commerce of Kenya, stated that Kenya should make good use of the upcoming Third China Africa Economic and Trade Expo to explore new markets for agricultural products while seeking investors. He also revealed that the National Federation of Industry and Commerce of Kenya will open an office in Hunan Province this year to help its member enterprises establish connections with Chinese traders and promote economic and trade exchanges between China and Kenya.
Relying on the China Africa Economic and Trade Expo and the pilot zone for deep economic and trade cooperation between China and Africa, Hunan Province has become one of the most active provinces in China's economic and trade cooperation with Africa. In 2022, Hunan's import and export to Africa reached 55.66 billion yuan, an increase of 42.8%. Among them, exports reached 40.86 billion yuan, an increase of 60.7%; Import reached 14.8 billion yuan, an increase of 9.2%. Changsha has a comprehensive range of manufacturing industries and a relatively developed level of manufacturing. It has manufacturing enterprises represented by Sany Heavy Industry, and cooperation with Africa has thriving development potential.
It is reported that among the approved free trade pilot zones established in China, Hunan Free Trade Pilot Zone is the only reform and innovation pilot zone positioned as a leading zone for deep economic and trade cooperation between China and Africa. Since its approval for construction, with a series of institutional innovations and exploration practices, the economic and trade exchanges between its "main battlefield" Changsha and Africa have become increasingly active. We have laid out 6 industrial chains for imported African products such as coffee, cashew nuts, and green root fruits, cultivating over 100 African brand products, "said Xiao Xiangdong, Secretary of the Yuhua Party Working Committee and Director of the Management Committee in the Changsha area of the Hunan Free Trade Zone.
The platform mechanism plays an important role
The Forum on China Africa Cooperation is