TradePromotion

Anhui province eyes fast-growing East African economy

2018-11-26 9:36:52

A business delegation from Anhui province, eastern China, became the first government-led group to arrive in Kenya to scout for business deals less than a month after the successful conclusion of the China International Import Exposition, in Shanghai.

Led by Zhou Xi'an, the vice-governor of Anhui province, more than 30 investors held business-to-business meetings with their local counterparts for three days starting Nov 20.

Zhou said the delegation, consisting of leading enterprises in logistics, manufacturing, infrastructure, and information and communication technology, are keen to participate in key sectors that will power Africa's industrialization. "The Beijing Summit of Forum on China-Africa Cooperation has opened an ambitious chapter for China–Africa cooperation with a series of significant outcomes being achieved and the consensus of working together for a community of a shared future," he said.

The deputy governor revealed that Kenya is Anhui's largest trading partner. "Since last year, the bilateral trade volume rocketed to over $63 million, up around 50 percent. Within the first nine months this year, this amount is $49.06 million, up 32.9 percent year-on-year. It is estimated that the bilateral trade will be improved at a high speed," he said. Some of the Chinese companies with a significant presence in the East African economy are JAC Motors, AHCOF International Development, Sun Create Electronics and ASCG Construction Group.

He therefore urged to the two parties to build stronger ties for the benefit of the peoples. This, he said, can be through common sectors, such as agriculture, that are the backbone of both economies.

Li Xuhang, the charge d'affaires of the Chinese embassy in Kenya, said, "This is the first provincial delegation from China after CIIE and FOCAC. China is keen on opening new opportunities and space for investment, and I am confident that the Kenyan trade and industry ministry, together with all other relevant departments, are enhancing efforts toward creating a conducive investment climate for foreign investors including Chinese."

Trade, Industry and Cooperatives Cabinet Secretary Peter Munya said the leaders of the two countries have invested heavily in strengthening bilateral cooperation. He encouraged the Chinese investors to venture into lucrative sectors and take advantage of the improving investment climate. "Kenya is the third most attractive destination for foreign direct investment in Sub-Saharan Africa. We also have a stable democracy, skilled workforce and friendly investment policy, and are the largest economy in the East African region and a member of COMESA."

At least three deals were signed between Chinese and Kenyan entrepreneurs during the meeting.