The fourth annual China-Africa Economic and Trade Expo (CAETE) concluded on Sunday with deals signed for 176 new projects, worth a total of $11.39 billion. The number of deals jumped by 45.8%, while the total value increased by 10.6% since the previous fair in 2023.
Around 200,000 people visited the main exhibition hall in Changsha, Hunan province. The province has been positioned as a logistics and trade hub focused on African agriculture, a key space for Africa-China trade promotion under the Forum on China-Africa Cooperation (FOCAC).
China-Africa Economic and Trade Expo Highlights
- TARIFFS: China announced that all trade tariffs on African countries would be lifted. This follows the lifting of tariffs on the continent’s 33 lowest-income countries announced in December. The ruling excludes Eswatini, which maintains ties with Taiwan. While significant, the lifting of tariffs won’t necessarily boost trade due to significant non-tariff barriers, including complex phytosanitary rules for agricultural imports.
- GREEN: New energy technology and electric vehicles featured prominently in Changsha. Numerous companies were pitching affordable electric mobility products, including scooters, e-bikes, and sedans. Collaboration on charging and battery swapping was also in play.
- MEETINGS: Numerous meetings took place on the sidelines of the fair. They include a meeting between an Angolan business delegation and their Chinese counterparts, as well as bilateral meetings between Chinese Foreign Minister Wang Yi and nine African counterparts.
WHY IS THIS IMPORTANT? In addition to the significant boost to the Africa-China relationship, the announcement is reportedly triggering conversation in Washington about the future of African trade agreements and tariffs ahead of an African leaders’ summit planned for September. Meanwhile, the Trump administration is reportedly also considering widening its travel ban to include 26 more African countries.
