China-Africa Economic and Trade Expo: A lasting trade relationship
BEIJING, July 23, 2019 /PRNewswire/ -- A news report by China.org.cn on China-Africa Economic and Trade Expo:
The China-Africa Economic and Trade Expo was held last month. Today, let's take a look at some figures that highlight the significance of this event.
As an important trade platform under the mechanism of the Forum on China-Africa Cooperation, the Expo was attended by more than 700 companies from 53 African countries, 150 state-owned Chinese enterprises and their subsidiaries, and more than 800 Chinese private companies. The Expo also saw more than 100,000 visitors.
China and Africa signed 81 documents of cooperation worth a total of more than 20 billion US dollars during the Expo. The documents cover not only projects in traditional areas of Sino-African cooperation, such as agriculture, mining, energy, infrastructure, industrial gardens and trade, but also those in high-end manufacturing, e-commerce, aviation service, tourism and cultural affairs, all of which represent the future of China-Africa cooperation.
Why is the Expo such a success?
Robust growth in bilateral trade is the primary reason. The trade volume between China and Africa reached 204.2 billion US dollars in 2018, a year-on-year increase of 20%. China has been Africa's biggest trading partner for ten consecutive years. In 2013, Chinese President Xi Jinping declared that China and Africa are a community with a shared future and stated that the two will remain reliable friends and faithful partners forever, supporting and helping each other.
The location of the Expo also played a role as Hunan enjoys an enduring friendship with Africa, taking into account the facts that Hunan has hosted major African trade events for the past four consecutive years. Trade between Hunan and Africa, as well as Hunan's investment in Africa, have been growing at more than 30% for four straight years. It's no small wonder that the biennial Expo has decided on Hunan as its venue for years to come.
Although the Expo lasted only three days, the curtains were never really drawn on the event. Both the Online China-Africa Economic and Trade Expo, launched before the event, and the Hunan (Gaoqiao) African Commodity Trade Pavillion, which opened on the day the Expo concluded, will be long-term venues that are set to boost Sino-African trade.
The score sheet of the Expo underlines China's strong intent to further open up to the rest of the world and grow together with African countries. As the chosen location for future iterations of the Expo, Hunan is well-positioned to achieve yet more remarkable results in deepening its trading cooperations with Africa.
China Mosaic
http://www.china.org.cn/video/node_7230027.htm
China-Africa Economic and Trade Expo: A lasting trade relationship
http://www.china.org.cn/video/2019-07/23/content_75023029.htm
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SOURCE China.org.cn
