World
Sanguine Sentiments
  ·  2024-09-18  ·   Source: NO.38 SEPTEMBER 19, 2024
The Eighth Conference of Chinese and African Entrepreneurs is underway in Beijing on September 6 (XINHUA)

At the Eighth Conference of Chinese and African Entrepreneurs, held in Beijing on September 6 as part of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC), business leaders from China and Africa shared their experiences and explored future cooperation opportunities. ChinAfrica reporter Xia Yuanyuan spoke to some of them. Edited excerpts of their views follow:

Abubakary Jawara, Chairman of GACH Global Group, Gambia

Now is the best time for China-Africa cooperation. China has taken the initiative to expand its market opening up and grant zero-tariff treatment to 100 percent of the products from all least developed countries that have established diplomatic relations with China, including 33 African countries.

We should take advantage of the mutually beneficial cooperation between China and Africa, and cooperate with Chinese companies or directly invest and start business in China.

Mohamed Ould A. Noueigued, President of the National Bank of Mauritania

For China-Africa trade transactions, it is too costly to convert African local currencies into U.S. dollars and then convert them into the Chinese yuan. The National Bank of Mauritania is strengthening its connectivity with Chinese banks to make it easier for traders to make payments.

According to the General Administration of Customs of China, in the first seven months of 2024, China's trade with Africa in intermediate goods posted a year-on-year growth of 6.4 percent, accounting for 68 percent of the total value of bilateral trade, which assisted Africa in its process of industrialization and economic diversification. Finance played an important role here.

Mouhadji Lam, Vice President of WHC Corp., a Mozambican holding company

China has achieved significant economic growth after reform and opening up [began in 1978], rapidly becoming the world's second largest economy. This experience is particularly significant to Africa.

What's more important, China teaches underdeveloped African countries how to provide for themselves­—teaching them to fish, not just giving them the fish.

Feng Qiang, Executive Secretary General of the China-Africa Business Council

[Chinese] President Xi Jinping's keynote speech at the opening ceremony of the 2024 FOCAC summit [on September 5] drew a new blueprint for China-Africa cooperation in the new era.

China-Africa cooperation has great potential. Currently, the China-Africa Business Council serves more than 3,000 companies. We hope member companies can firmly grasp this major opportunity and contribute positively to building an all-weather China-Africa community with a shared future for the new era.

Ulrich Freddie Gaoseb, Commercial Counsellor at the Embassy of the Republic of Namibia in China

I am very excited to hear that Chinese President Xi Jinping announced 10 partnership initiatives that China will take with Africa to advance modernization of both sides over the next three years. Agriculture was again emphasized in his speech.

In Africa, food security is very important. China, which has been successful in feeding its [over] 1.4 billion people and lifting hundreds of millions out of [extreme] poverty, is expected to play a key role in helping Africa to address food insecurity by engaging in intensified bilateral cooperation in agricultural technology.

Copyedited by Elsbeth van Paridon

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