2024 FOCAC Summit | Chinese and African entrepreneurs hope to deepen future cooperation

(ECNS) -- As economic and trade cooperation between China and Africa draws increasingly closer, related businesses are hoping to tap into future cooperation.

In Senegal, China National Salt Industry Group Co., Ltd. uses sun-dried sea salt to produce 150,000 tons of refined salt every year.

According to the company, many African countries boast a natural and unique condition for salt manufacturing. For example, countries like Ghana, Angola and Tanzania also enjoy a very long, salt-producing coastline.

Unlike China, most salt in these countries is edible. While helping to improve salt manufacturing technology, the Chinese company can further help local businesses develop promising salt-based chemical industries.

Dangote, the world's largest single-train refinery, in Nigeria's southwestern state of Lagos (Photo: courtesy of the China National Chemical Engineering Group Corporation Ltd.)

“Thanks to abundant resources, African industries, especially in manufacturing industry, have broad development prospects, offering huge opportunities for Chinese technologies, Chinese facilities and Chinese standards,” said Mo Dingge, chairman of China National Chemical Engineering Group Corporation Ltd.

Apart from the traditional manufacturing industry, China-Africa economic and trade cooperation is pivoting towards new fields such as clean energy, digital economy, finance and commerce.

For instance, Chinese firm JinkoSolar has exported photovoltaic modules and energy storage products to a total of 45 African countries, with a market share of nearly 15 percent.

Qian Jing, global vice president of JinkoSolar, noted that there is a very huge potential for bilateral cooperation in the clean energy sector, especially in terms of photovoltaic application and energy storage.

Undoubtedly, this means more business opportunities for both Chinese and African enterprises. Their eagerness to strengthen cooperation is evidenced by the number of registered participants in the Eighth Conference of Chinese and African Entrepreneurs.

According to Zhang Shaogang, vice chairman of the China Council for the Promotion of International Trade, this year, the conference has attracted more than 1,000 entrepreneurs from both sides, which is way more than expected.

As an important part of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC), the conference will be held on Friday in Beijing. It will help elevate trade relations between China and Africa to a new level.