CAETE Promotes High-Quality Cooperation Between China and Africa

On Thursday 29 June 2023, the China-Africa Economic and Trade Expo (#CAETE) officially opened in Changsha, the capital city of Hunan province in China. The theme of this edition is “Common Development for a Shared Future.”

In 2023, the CAETE is clocking its 3rd edition. The CAETE takes place biennially: the 1st edition was held in 2019 and the 2nd in 2021.

Chinese VP HAN Zheng Delivers Opening Remarks at CAETE 2023

For this 3rd edition, eight African countries were earmarked as special guests, namely, Benin, DR Congo, Madagascar, Malawi, Morocco, Mozambique, Nigeria and Zambia. On the Chinese side, the two provinces of Shandong and Hubei took the lead to strengthen ties with Africa.

In 2022, the trade volume between Africa and China reached USD 282 billion. Taken as a single bloc, the African Union (#AU) ranks as the 4th largest trading partner of China.

Top Trading Partners of China in 2022

In addition to exhibition stands dedicated to each African country, the organizing committee has set up an exhibition area to showcase the outcomes of the #FOCAC and #BRI in Africa. As a noteworthy addition this year, several cross-cutting thematic conferences, business forums as well as a variety of specialized seminars are on the program.

Some of the thematic events include:

The 3rd edition saw an increase in the exhibition area to 10,000 square meters, adding some 3,000 square meters compared to the 2nd edition. Nearly 1,500 organizations, including national governments, provincial or local governments, regional and international bodies and enterprises of all sizes, booked stands at #CAETE.

Not only exhibitors are on the rise, but the number of visitors is expected to set a new record. During the first two days, the expo is only open to invited guests and professionals. Some 8,000 buyers and business people are expected during this restricted period. Then, from 1 to 2 July, the expo is open to the general public and total participation is expected to exceed 100,000 visits.

Global GDP Rank in 2022

If Africa were treated as a single country, its combined GDP of USD 3.1 trillion in 2022 would place it at the 6th position globally. Moreover, many of the fastest growing economies in the world are located in Africa. As Africa continues on a sustained growth trajectory over the next few decades, it could well end up among the top three largest economies in the world by 2050.

During his keynote address, Chinese VP Han Zheng highlighted that the destinies of China and Africa are closely intertwined. He acclaimed the Sino-African relation as developing steadily and healthily over the past few decades. In the future, both sides will focus more on high-quality development to enhance mutual benefits.