The 3rd China-Africa Economic and Trade Expo, meant to promote trade between China and the rest of the world, has been launched in Accra.
The event scheduled for June 29 to July 2, 2023, in Changsha, Hunan Province in China was launched during the China (Shaoyang)-Ghana Economic and Trade Exchange Matching Conference in Accra on Monday.
The Department of Commerce of Hunan Province, Trade Development Bureau of the Ministry of Commerce, Foreign Affairs Office of Hunan Province, China Council for the Promotion of International Hunan Sub-Council, and People’s Government of Changsha would organize the event under the theme “Common Development for a Shared Future,” which would be sponsored by the Ministry of Commerce of the People’s Republic of China and People’s Government of Hunan Province.
The Shaoyang Municipal Bureau of Commerce is in charge of organizing the four-day event, which will take place under the patronage of the Shaoyang Municipal People’s Government.
Speaking at the event, Michael OkyereBaafi, the deputy minister of trade and industry, urged Chinese businesses to take advantage of the AfCFTA proposal and establish a foothold in Ghana.
He said at the China (Shaoyang)-Ghana Economic and Trade Exchange Matchmaking Conference on Monday in Accra, “We are now at the beginning of the state of the concept, so this is the time companies from China should be interested in coming to Ghana to set up companies, so they can take advantage of the huge market the compact presents.”
According to him, the 1.2 billion-person AfCFTA market has a total Gross Domestic Product of $3.4 trillion.
“This demonstrates unequivocally that everyone who settles in Ghana now has a promising future. You might engage with other African markets in addition to Ghana because you will gain access to a larger market, according to Mr. Baafi.
The Deputy Minister emphasized that Chinese businesses might enter the automobile industry and make headlights, brakes, and car batteries.
Ghana, according to Mr. Baafi, would keep advancing its diplomatic and commercial ties with China.
He said that Ghana would actively participate in the Expo in China in order to attract investment for the car industry.
Now, we are unable to trade without China. China is Africa’s only hope for civilisation, trade, and industrialization, hence the nation has a unique foreign policy with China to develop this connection for the mutual benefit of the two nations, according to Mr. Baafi.
In her remarks, Ms. Yan Lijn, deputy mayor of the Shaoyang Municipal People’s Government, stated that many African nations were anticipated to attend the expo to promote their goods and services and learn more about what China has to offer.
She claimed that entrepreneurs and investors will have a chance to sign contracts and business transactions at the event.
According to Ms. Lijn, China is working to get more Chinese businesses to open up shop in Ghana, especially in the field of free zones.
The third China-Africa Economic and Trade Expo, according to Yao Min, deputy director of the Shaoyang Municipal Bureau of Commerce, will provide new chances and give real economic and trade cooperation and a win-win partnership between Ghana and China fresh energy.