China Africa Economic and Trade Cooperation Advances

16 agricultural products from 11 African countries have been allowed to export to China under the "Green Channel". 21 African countries have enjoyed 98% zero tariff treatment for products exported to China. A number of renewable energy projects, such as the Zungeru Hydropower Station in Nigeria and the Sakai PV Power Station in Central Africa, undertaken by Chinese enterprises, have made good progress, China has launched preparations for the establishment of the China Africa Satellite Remote Sensing Application Cooperation Center... On June 13th, at the Third China Africa Economic and Trade Expo and the China Africa Economic and Trade Cooperation Conference held by the State Council, Vice Minister of Commerce Li Fei introduced a series of achievements in China Africa economic and trade cooperation.
The comprehensive resumption of offline China Africa Economic and Trade Expo after the epidemic will further promote the deepening and consolidation of China Africa economic and trade cooperation. As of now, 53 African countries that have established diplomatic relations, 8 international organizations, 30 domestic provinces, cities, and more than 1500 central enterprises, business associations, and financial institutions have registered to participate in the conference. This set of numbers demonstrates the good wishes of all parties to seize the momentum of China Africa economic and trade cooperation.
Data shows that the total trade volume between China and Africa has exceeded 2 trillion US dollars, and China has always maintained its position as Africa's largest trading partner. Chinese enterprises have signed contracts for non new contracted projects with a total amount exceeding 700 billion US dollars and completed a turnover exceeding 400 billion US dollars; China's cumulative flow of direct investment in Africa has exceeded 30 billion US dollars, making it the fourth largest source of investment in Africa.
We actively encourage capable enterprises to invest in Africa's agriculture, manufacturing, and service industries, fully leverage the role of the African Economic and Trade Cooperation Zone, promote industrial upgrading in Africa, enhance Africa's processing and manufacturing level and product added value, and help Africa enhance its overall export capacity. "Jiang Wei, Director of the West Asia and Africa Department of the Ministry of Commerce, stated that China Africa economic and trade cooperation not only has the advantages of rapid development of trade scale and further improvement of trade facilitation level In addition to the continuous expansion of trade channels and other characteristics, there is also a good trend of integrated development of trade and investment.
The company led by Pan Henghui, Chairman of Tavostone Tire Company, who has just been awarded the honorary title of "TAIYESE OF EGBIN KINGDOM" in Nigeria, is one of the examples of achieving trade and investment integration. From one container per month in the early days to nearly 200 containers in the following month, Tavostone's trade scale with Africa continued to expand. At present, Tevostone's subsidiary in Nigeria, Dewei International, has become one of the largest tire importers and distributors in Nigeria. After seeing such a vast opportunity, Pan Henghui built another motorcycle inner and outer tire factory. This motorcycle inner and outer tire factory can provide employment for at least 1000 to 1500 people.
There are a large number of unemployed young people in Nigeria. If a factory can be built, it can not only achieve product localization, but also solve the problem of employment for a large number of people and bring more benefits to the local people. "Pan Henghui introduced that in addition, the company actively fulfills its social responsibility, not only donating to the local area, but also building schools and roads. Because of this, he was awarded the title of Honorary Chief.
At the same time, a number of national level overseas economic and trade cooperation zones established in Africa have also become important platforms to assist local investment attraction and export earnings.
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