According to the China Daily Africa report, the first China International Import Expo (CIIE) will be held at the Shanghai National Convention and Exhibition Center from November 5th to 10th. African countries hope to use this opportunity to increase exports to China and ease the current trade with China inequality.
According to the statistics of the Ministry of Commerce of China, the total import and export trade between China and Africa reached US$170 billion in 2017, an increase of 14.1% year-on-year. Among them, China’s exports to Africa were 94.74 billion U.S. dollars, up 2.7%, and China’s non-imports were 75.26 billion U.S. dollars, up 32.8%. China’s trade surplus with Africa was $19.5 billion, down 45.2% year-on-year.
According to data provided by the Center for Advanced International Studies (SAIS) of the Johns Hopkins University in Washington, DC, in 2016, Africa’s largest exporter to China was Angola, followed by South Africa and the Republic of the Congo. South Africa is also the largest buyer of Chinese goods, followed by Egypt and Nigeria.
90% of the goods exported by African countries to China are natural resources, and the goods they import from China are more diversified, including finished goods, transportation equipment and machinery.
African countries hope to expand their exports to China through the first China International Import Expo, and hope that China’s world factory will be able to import more African raw materials.
South African Minister of Trade and Industry Robert Davis pointed out that he hopes that the first China International Import Expo will help narrow the trade imbalance between Africa and China. He particularly expects South Africa’s high value-added goods to find a market in China.
“We look forward to exporting more products to China, especially high value-added products. Many Chinese companies will participate in the Expo,” he said.
Currently, South Africa’s main exports to China include iron ore, steel, manganese, chrome ore, tobacco, wool, granite, gold, aluminum, copper and auto parts. On the other hand, China’s main exports to South Africa include textiles, cowpeas, peanuts, cottonseed cakes, light electronics, capital equipment, paraffin and televisions.
Peter Biwater, CEO of the Kenya Export Promotion Council, also expressed the hope that the first China International Import Expo will ease the trade deficit between African countries and China.