The 3rd China Africa Economic and Trade Expo involves projects worth over 10 billion US dollars, Changsha, Hunan | Customs | Expo
CCTV News: The Third China Africa Economic and Trade Expo will be held in Changsha, Hunan from June 29th to July 2nd. The Third China Africa Economic and Trade Expo has collected 156 various projects submitted by China and Africa, involving a total project amount of 10.7 billion US dollars. The Ministry of Commerce introduced at the press conference of the State Council Information Office yesterday that the process of African integration is continuing to deepen and has made positive progress, which will also provide new opportunities for economic and trade cooperation between China and Africa.
The Ministry of Commerce stated that in recent years, the progress made in African integration has been particularly reflected in the construction of free trade zones on the African continent. The mainland free trade zone was officially launched on January 1, 2021, committed to forming a large market covering 1.3 billion people and a scale of 2.3 trillion US dollars. At present, 54 out of 55 members of the African Union have signed the main agreement, and substantive negotiations such as tariff concessions and rules of origin are accelerating. Cameroon and 8 other countries have started pilot free trade for some products, and supporting systems such as Pan African Payment and Settlement and African Trade Monitoring have been launched and promoted. At the same time, cross-border infrastructure construction in Africa is accelerating and has made good progress. African economic integration will inject strong momentum into local economic and social development, and also provide new opportunities for China Africa economic and trade cooperation.
Jiang Wei, Director of the West Asia and Africa Department of the Ministry of Commerce: China has always supported the process of African integration. In the future, we will actively encourage Chinese enterprises to leverage their advantages, participate in infrastructure construction in Africa, and help Africa build an efficient and smooth large market.
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