China held the third Africa Economic and Trade Expo from June 29th, 2023, to July 2nd, 2023, in Changsha, central China’s Hunan Province, with the highest participation ever, registering a total of 120 projects worth 10.3 billion US dollars signed between China and African countries.
The expo’s main objectives were to boost the economy through the showcasing of some commodities and new developments in the manufacturing industries in Africa and China.
According to Zhou Yixiang, Deputy secretary general of the Hunan Provincial Government, this year’s expo was the largest ever, with 1700 foreign guests and 10,000 domestic guests. The number of exhibitors of African exhibits recorded a 70% increase.
“The expo was attended by 53 African countries that have diplomatic ties with China, 12 international organisations, 1700 Chinese and African enterprises, Business associations, chamber of commerce and financial institutions, “said Yixiang.
According to Lynn Ankunda, Uganda’s panellist at the expo, a number of trade agreements are yet to be signed between the Minister of Trade and Industry and cooperatives on behalf of Uganda and China. She added that talks are being finalized in regards to financing.
“A number of African Finance Ministers’ attended the expo, and on our part, the Minister of Trade is yet to sign off on a number of projects with China on behalf of Uganda,” said Ankunda.
The expo demonstrated the resilience of China-Africa economic and trade cooperation. China is currently Africa’s largest trading partner and fourth biggest source of investment, with a total of $282 billion in investments.
