Le Lézard
Classified in: Business, Covid-19 virus
Subjects: TDS, ECO, FOR, TRD

Standard Bank Executive Sees CIIE as Key to China-Africa Trade

SHANGHAI, July 2, 2020 /PRNewswire/ -- The China International Import Expo (CIIE) has helped to diversify China's sources of imports and facilitate greater trade flows between China and Africa, says François Gamet, head of Asia for the Standard Bank Group and CEO of Standard Advisory (China) Ltd.

Transactions have been concluded on the back of the CIIE, representing a direct impact, but evidence of a wider indirect impact has also been seen, with customers learning about CIIE through Standard Bank's marketing and looking to China as a potential trade partner, he says.

As the largest bank in Africa, Standard Bank Group, along with its strategic partner ICBC, has been attending the CIIE since its inception. It has also introduced 20 businesses from the continent to the expo.

Impressed by the size and diversity of the event, the bank intends to leverage the opportunity to access one of the world's most consequential and dynamic markets to actively engage its client base.

At the most recent edition of the CIIE, Standard Bank hosted two stands: one in the financial services pavilion and the other in the agro-processing pavilion, greatly benefitting our customers who were predominantly from this sector, he says.

Gamet points out that many of Standard Bank's customers who attended the CIIE have successfully negotiated sales agreements, with Chinese buyers purchasing products such as wines, fruits, nuts, chilies, and a variety of other agricultural and agro-processed goods.

For many clients, it was their first sale in the Chinese market and therefore an exciting, lucrative, new market entry for them. In some instances, these exporters had to increase capacity to meet their first orders, further indicating the extent to which the CIIE can benefit African businesses, says Gamet.

Though the COVID-19 pandemic has resulted in slower economic growth this year, Gamet retains his confidence in the Chinese economy and the Belt and Road Initiative, which has brought important development opportunities to African countries.

Despite the gloomy economic outlook, the structural drivers in the China-Africa corridor remain intact, and are likely to re-assert themselves soon, he says.

Over the past 16 years, African countries have enjoyed a strong trade relationship with China. Statistics from the Ministry of Commerce show that bilateral trade between the two sides reached more than $200 billion in 2018, representing a year-on-year rise of 20 percent. China has now been the continent's largest trade partner for 10 consecutive years.

Standard Bank remains committed to driving Africa's growth and sees trade with China as key to supporting this commitment, says Gamet.

This year's CIIE will take place from Nov 5 to 10 at the National Exhibition and Convention Center in Shanghai.

So far, more than 90 percent of the planned business exhibition area has been reserved by exhibitors, according to the organizers.

And despite the current economic uncertainty, one thing seems certain ?? the trend for increased economic cooperation between China and Africa is set to continue.

More information of CIIE is as follows: with two editions successfully held since 2018, CIIE serves as the platform for international procurement, investment promotion, cultural exchange, as well as opening-up and cooperation. The third edition of CIIE will take place in Shanghai from November 5th to 10th. Thousands of companies, which are leading players in their industries, will gather at the expo to showcase their products and services, and seek business opportunities with global buyers.

At CIIE, participants can both purchase a wide range of products from the world and can also sell their products to the world. CIIE helps drive investment both inward and outward and contributes to maintaining a stable global supply chain. CIIE welcomes global buyers to join the upcoming event and to share opportunities presented by China's further opening up.

Video - https://www.youtube.com/watch?v=fhejGnVdGWk
Logo - https://mma.prnewswire.com/media/1077995/CIIE_Logo.jpg

Ms. Nie Qingxin
Tel.: +86-21-59760717, +86-21-59761076
Email: [email protected]
Website: http://www.ciie.org/zbh/en/ 
Facebook: https://www.facebook.com/ciieonline
Twitter: https://twitter.com/ciieonline
YouTube: https://youtu.be/fhejGnVdGWk


These press releases may also interest you

21 jun 2024
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 5, 2024 to file lead plaintiff applications in a securities class action lawsuit against The...

21 jun 2024
The Prime Minister, Justin Trudeau, today issued the following statement on the passing of James K. Irving: "It is with sadness that I learned today of the passing of James K. Irving, a successful Canadian business leader and entrepreneur. "A proud...

21 jun 2024
TSX VENTURE COMPANIES NEX COMPANY BULLETIN V2024-1898 CHINA KELI ELECTRIC COMPANY LTD. ("ZKL.H")BULLETIN TYPE:  Reinstated for TradingBULLETIN DATE:  June 21, 2024NEX Company Further to the TSX Venture Exchange Bulletin dated January 9, 2023, the...

21 jun 2024
B2Gold Corp. ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the...

21 jun 2024
Global X Investments Canada Inc. ("Global X") is pleased to announce the distribution amounts per security (the "Distributions") for its exchange traded funds (the "ETFs"), for the period ending June 30, 2024, as indicated in the tables below. The...

21 jun 2024
The Minister of Diversity, Inclusion and Persons with Disabilities, the Honorable Kamal Khera, and the Minister for Women and Gender Equality and Youth, the Honorable Marci Ien, will be in Mississauga to announce investments in mental health support...

News published on and distributed by: