African firms look to expand exports to China
Sep 6, 2018-
For Egyptian entrepreneur Mohamed Helal, China’s new initiative to increase imports from Africa means unprecedented potential opportunities for his company that focuses on eco-friendly fertiliser technology.
China could become his firm’s biggest market as the country seeks to expand non-resource imports from Africa, said Helal, vice president of Gizatec, on the sidelines of a business forum under the two-day 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).
At the summit, it was announced that China will increase imports, especially non-resource products,
“China is looking to improve its agricultural sector and switch from chemical fertilisers to organic fertilisers.
That’s why Gizatec is here to help Chinese farmers produce healthier food in an eco-friendly way,” Helal said.
Gizatec started last year to export fertilisers to China, a market at least 300 times as large as Egypt’s domestic market, according to Helal.
Helal believes increased advanced agricultural product imports will also benefit China.
“Although Africa is in the early stages of industrialisation, it has some advantages in agricultural production and technologies,” he said.
As China seeks to expand imports for balanced foreign trade, African firms are jumping in for a slice of the pie.
Published: 06-09-2018 08:01