New moves will benefit Africa firms
Print Edition
FOR Egyptian entrepreneur Mohamed Helal, China’s new initiative to increase imports from Africa means unprecedented potential opportunities for his company that focuses on eco-friendly fertilizer technology.
China could become his firm’s biggest market as the country seeks to expand non-resource imports from Africa, Helal, vice president of Gizatec, said on the sidelines of a business forum under the two-day 2018 Beijing Summit of the Forum on China-Africa Cooperation.
At the summit, it was announced that China will hike imports, especially non-resource products, from Africa.
“China’s looking to improve its agricultural sector and switch from chemical fertilizers to organic ones. That’s why Gizatec is here to help Chinese farmers produce healthier food in an eco-friendly way,” he said.
Gizatec last year began exporting fertilizers to China, a market at least 300 times as large as Egypt’s domestic market, according to Helal, who believes increased advanced agricultural product imports will also benefit China.
As China seeks to expand imports for balanced foreign trade, African firms are jumping in for a slice of the pie.
It was also announced at the summit that China will support African countries in participating in the China International Import Expo, scheduled for November. The least-developed African countries will be exempt from paying exhibition fees.
Salaheddine Mezouar, Moroccan Employers’ Association chief, said the CIIE will encourage African firms to enhance their manufacturing capability, and allow them to better understand the demands of Chinese consumers. “The CIIE will encourage African companies to export more value-added products to the Chinese market.”
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