International Trade: “China-Arab Expo 2017” Preparations Underway

A press briefing held in Beijing on June 2, 2017 ahead of next September’s trade fair.

 

The 2017 China-Arab States Exposition runs from September 6-9 in Yinchuan, Ningxia Hui Autonomous Region, with Egypt being the Country of Honour. The event is sponsored by the Chinese Ministry of Commerce, China Council for the Promotion of International Trade, CCPIT and the People’s Government of Ningxia Hui Autonomous Region. At a press conference on June 2, 2017 in the Chinese capital, Beijing, officials underscored that the fair was open to all countries.

Wang Heshan, Vice Governor of Ningxia Hui, disclosed that his region’s Gross Domestic Product increased by 8.1 per cent in 2016, while the volume of foreign trade reached 23.5 Billion Yuan Renminbi (about 2,007 Billion FCFA). This gave an average growth of 16.8 per cent in the past five years. Meanwhile, Foreign Direct Investments totaled 950 Million US Dollars (about 557.3 Billion FCFA) - an average growth of 135 per cent in the last five years. Similarly, the China-Mauritania Maritime Comprehensive Industry Park received great support from Mauritanian authorities, while the Mauritania Animal Husbandry Demonstration Centre was completed.

Chinese Vice Commerce Minister, Qian Keming, said China-Arab trade volume in 2016 totaled 171.14 Billion US Dollars (about 99,945 Billion FCFA), while new project contracts were worth 40.37 Billion US Dollars (or 23,502 Billion FCFA), an increase of 40.8 per cent. On the other hand, China’s direct non-financial investments in Arab nations stood at 1.15 Billion US Dollars (or 669.1 Billion FCFA), while Arab countries’ direct investments in China in the same period reached 67 Million US Dollars (about 39 Billion FCFA). Keming promised that China-Arab industry clusters will be fostered by constructing amongst others the China-Egypt (Suez) Economic and Trade Cooperation Zone.

Officials said the last five sessions of the trade fair were attended by 139 chambers of commerce and business associations, over 6,500 business and financial institution representatives, and more than 47,000 exhibitors and buyers. Since 2010, China and Arab countries have signed 876 business agreements worth 435.93 Billion Yuan Renminbi (about 37,215 Billion FCFA). “China-Arab States Expo 2017” events will include a business summit and an entrepreneurs’ conference comprising merchandise and service trade, technical, investment and tourism cooperation aspects.

 

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