✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

China, Africa sign $20.8bn-worth deals at trade expo

The first China-Africa Economic and Trade Expo ended in Changsha, Hunan Province with 84 cooperation documents worth $20.8 billion signed between China’s state-owned and private enterprises and their African partners.

The new deals covered areas such as trade, investment, infrastructure, agriculture, manufacturing, aviation and tourism.

The Inspector of the General Office of the People’s Government of Hunan in central China, Luo Jianjun, who disclosed this while briefing newsmen at the end of the expo, said the agreements have helped explore new path of cooperation and further strengthened China-Africa traditional and strategic partnership.

SPONSOR AD

The expo, announced at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) last September, was established to provide a platform for deepening economic and trade cooperation between the two sides.

The three-day event attracted more than 10,000 guests and exhibitors, including those from 53 African countries, according to the organizing committee.

“We look forward to the full use of the expo platform to deepen China’s trade relations with Africa,” he said, assuring that efforts would be made to ensure full implementation of all the agreements.

Earlier at the opening of the expo, China’s Vice-Premier, Hu Chunhua, reiterated his country’s willingness to work with African countries to grasp opportunities brought about by the Belt and Road Initiative and strengthen cooperation in fields including trade, investment and infrastructure.

China has been the largest trading partner of Africa for ten consecutive years. In 2018, trade volume between China and Africa amounted to 204.2 billion U.S. dollars, up 20 percent year on year.

China’s imports of non-resources products from Africa have increased significantly. In 2018, China’s imports from Africa went up 32 percent year on year, with the imports of agricultural products up 22 percent.

Vice-Premier Hu, however, said more efforts are needed to increase import of high-standard Africa goods and services, vigorously expand investment cooperation and boost infrastructure connectivity.

“China owes its progress to reform and opening-up, and will continue to advance along this path,” Hu said.

He added that China is willing to uphold the open world economy and the multilateral trading system, and will further widen market access, optimize the business environment and pursue trade and investment liberalization and facilitation.

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.