Business leaders from China and Africa on Friday enthusiastically endorsed the cooperation towards stronger commercial partnership between the two sides at the eighth Conference of Chinese and African Entrepreneurs, a key event of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).
Focusing on two topics - promoting the integration of industrial and supply chains, and the development of emerging industries, this year's conference has attracted more than 1,000 participants, including over 400 representatives from business associations and institutions across 48 African countries.
Organized by the China Council for the Promotion of International Trade (CCPIT) and China's Ministry of Commerce, the conference is the highest-level economic and trade event within the FOCAC framework for the business communities of both sides.
Many of the business leaders pointed out that a series of new cooperation measures announced during the summit would be conducive to the further integration of industrial and supply chains between China and Africa.
In his keynote speech at the FOCAC summit, Chinese President Xi Jinping announced that the country would give all LDCs having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 percent tariff lines.
"The tariff free opportunities that have been given to the African nations has a huge opportunity for Ethiopian Airlines in providing logistics service for all African nations to bring in their products into China," said Aman Wole Gurmu, country director of China for Ethiopian Airlines, which has been operating in the Chinese market for the past 51 years.
"Now, Africa still has a relatively large demand for equipment, especially high-end equipment for civil aviation. This time, we have signed some intent orders. It is estimated that our trade volume, especially for overseas trade in Africa, may reach 8 million U.S. dollars by the end of this year," said Ma Haibing, chairman of Jiangsu Lantian Aerospace Industrial Park.
Meanwhile, there is enormous potential for cooperation between China and Africa in emerging fields such as digital economy, green development, and artificial intelligence. Conference participants said that the summit creates opportunities for them to explore new partnership.
"Some companies are on IT. Some companies are in mining, energy, agricultural products and also food and beverages. So, we also have manufacturers, and all are collaborating with Chinese companies already. But they are also looking for more collaboration, more partners in new projects they have," said Jeanne Francoise Mubiligi, chairperson of Rwanda's Private Sector Federation.
"Modern emerging industries, such as smart healthcare, smart electronics, and smart transportation have great potential to be introduced to these countries and regions. The practical applications of Chinese manufacturing and emerging technologies can be realized in Africa. The market has broad prospects. We also hope to seize this opportunity," said Jia Shaoqian, chairman of China's home appliances and electronics manufacturer Hisense Group.
Chinese, African entrepreneurs vow to forge stronger partnership
