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.
Under the theme "Common Development for a Shared Future," the event would be jointly organised by 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 under the sponsorship of the Ministry of Commerce of the People's Republic of China and People's Government of Hunan Province.
The four-day event which would be held under the auspices of the Shaoyang Municipal People's Government, is organised by the Shaoyang Municipal Bureau of Commerce.
Speaking at the programme, the Deputy Minister of Trade and Industry, Michael OkyereBaafi, said Chinese companies must take advantage of the African Continental Free Trade Area (AfCFTA) initiative and establish their presence in Ghana.
"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 that they take advantage of the huge market the compact presents," he said at the China (Shaoyang)-Ghana Economic and Trade Exchange Matchmaking Conference in Accra on Monday.
He said AfCFTA presented a market of 1.2 billion people with combined Gross Domestic Product of $3.4 trillion.
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"This clearly shows that anybody that sets up in Ghana now, has a bright futuretomorrow. Because you are going to benefit from a bigger market, you may not only be dealing with Ghana, but other markets in the African region," Mr Baafi stated.
The Deputy Minister stressed that Chinese companies could enter into the automotive sector and venture into car battery, brake, and headlight manufacturing.
Mr Baafi said Ghana would continue to strengthen the bilateral and trade relationship with China.
He said Ghana would actively take part in the Expo in China to seek investment into the auto sector.
"We cannot trade without China now. Africa's only hope in terms of civilisation and trade and industrialisation depend on China and that is how the country has a specific foreign policy with China to build this relationship together for both countries to benefit," Mr Baafi stated.
The Deputy Mayor of the Shaoyang Municipal People's Government, Ms Yan Lijn, in her remarks said the expo was expected to receive participants from a lot of African countries to showcase their products and services and also see what China offered.
She said the event would also provide opportunity for businesses and investors to seal business deals and contracts.
Ms Lijn said China was working to attract more Chinese companies to establish in Ghana particularly in the area of Free Zones.
The Deputy Director of Shaoyang Municipal Bureau of Commerce, Yao Min, said the 3rd China-Africa Economic and Trade Expo would bring new opportunities and inject new momentum for practical economic and trade cooperation and win-win partnership between Ghana and China.
