The Independent Uganda: You get the Truth we Pay the Price
Myburgh said China’s efforts to promote high-level opening-up are welcomed by African countries and will boost Africa’s economic recovery and growth.
JOHANNESBURG | Xinhua | The China International Import Expo (CIIE) is an important platform for Africa to showcase its products and enhance trade with China, said a South African expert.
“China has an important and attractive market, and the CIIE is incredibly big and diverse. It’s a wonderful opportunity for African businesses to tap into the Chinese market and understand what’s happening in the global market,” said Philip Myburgh, group head of trade at Standard Bank Business and Commercial Banking, in an interview with Xinhua ahead of the 7th CIIE due from Tuesday to Sunday in Shanghai.
Given that Africa sometimes takes a backseat or gets overshadowed by larger economies at global events, Myburgh said they expect more exposure to and attention from the international community.
“We are certainly getting a stronger presence at the CIIE, with the Africa pavilion bringing all made-in-Africa products together,” he said, adding that it’s encouraging to see more emphasis on Africa.
Standard Bank, which has participated in the CIIE since its inception, has hosted many promotional events to strengthen the connection between Africa and China, said the expert.
“We are seeing more diversity and stronger demand for African products showcased in the CIIE, and we are expecting more transactions, more interest, and more deals being signed this year,” he added.
During the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) held in September in Beijing, China committed to further opening its market to African agricultural products, with two protocols signed for the export of greasy wool and dairy products from South Africa to China.
In Myburgh’s opinion, the FOCAC marks a highlight of the China-Africa relationship as many infrastructure and funding projects were announced, and more partnership agreements signed. Meanwhile, the CIIE is a practical showcase of the theoretical and political commitments made at the FOCAC.
Myburgh said China’s efforts to promote high-level opening-up are welcomed by African countries and will boost Africa’s economic recovery and growth.
China plays an important role in helping African countries diversify their economies and boost growth, and has become a key off-taker for African products and a provider of critical technologies for the industrialization and sustainable development of the continent, he said.
Noting that Africa could benefit from more foreign exchange, Myburgh said exports to China could be a critical contributor to Africa’s economic growth.
It’s also crucial for African countries to learn from China when it comes to renewable energy and technologies to save water and conserve energy, said Myburgh, adding that the CIIE has offered a platform for Africans to learn from and collaborate with more important stakeholders.■
