Ramaphosa says China expo is right on time

President Cyril Ramaphosa has said that this year’s China International Import Exhibition could not have come at a better time for the African continent.

DURBAN, November 4 (ANA) – In the wake of the Covid-19 pandemic, South African President and Chairperson of the African Union Cyril Ramaphosa said on Wednesday that this year’s China International Import Exhibition could not have come at a better time for the African continent.

Ramaphosa was speaking during the opening ceremony of the third annual China expo and was joined by Chinese President Xi Jinping and chairpersons of the Regional Economic Communities of Africa.

The China expo is the largest import exhibition in the world and provides an opportunity for international companies to forge ties with Chinese companies.

“As we embark on the difficult task of economic recovery in the wake of Covid-19, it is more necessary than ever to promote global investment and trade,” said Ramaphosa.

“For the African continent, this could not have come at a better time.”

Ramaphosa said the world was just two months away from the first trading date of the African Continental Free Trade Area (AfCFTA), an agreement signed in 2018 that includes 28 countries.

The agreement requires members to remove 90% of tariffs from goods, thus allowing access to commodities across the African continent.

The AfCFTA agreement is expected to expand the African continent’s economy by US$29 trillion by 2050.

“This free trade area will be the largest in the world. It will boost regional trade, reconfigure continental supply chains and spur economic growth across the continent.

“As much as its focus is on intercontinental trade, China is a long-standing and valued trade partner. It is therefore my hope that at next year’s expo we will see even greater numbers of African companies participating,” Ramaphosa said.

Ramaphosa thanked Xi for China’s support to Africa during the Covid-19 pandemic, such as the provision of medical supplies and pledging debt suspensions to 77 developing countries.

“The Extraordinary China-Africa Summit on Solidarity against Covid-19 was a further testament to China’s commitment to Africa,” Ramaphosa said.

Ramaphosa said that Sino-African relations were key not only to overcoming the current pandemic, but also to other challenges that may arise.

– African News Agency (ANA); Editing by Yaron Blecher