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Economic Exchanges between Yiwu and Africa Grow Steadily
Source: Fair News        Time:2015-11-20 [ BACK ]

Economic Exchanges between Yiwu and Africa Grow Steadily

    Yiwu has brought into closer economic and trade cooperation with Africa for years. According to statistics of Yiwu Customs, from January to July this year, exports from Yiwu to Africa reached RMB 26.89 billion, increasing by 48.4% year on year. Egypt is the largest country of Yiwu’s export destinations. Yiwu’s exports to Egypt from January to July reached RMB 4.78 billion, increasing by 58.4%. It is understood that from January to July this year, Africans who reside permanently in Yiwu came to 2,800, taking up 1/3 of all foreigners. Those who enter Yiwu temporarily came to about 40,000, accounting for 20% of the total temporary immigration. By the end of 2014, the number of African investment projects in Yiwu has reached 70, with contractual utilized foreign capital of USD 49.54 million. Enterprises from Yiwu have carried out over 10 overseas investment projects in 6 African countries, with the total overseas investment of USD 25.54 million.

    In May, 2011, “African Products Exhibition & Trade Center”, a sales exhibition platform for African products, was established in Imported Commodities Mall, District V, International Trade Mart, which gathers numerous African businessmen to exhibit and sell African products. By far, there have been more than 5,000 kinds of products from 29 African countries and regions on sale, including ebony products, carved wooden artifacts, carved stone artifacts, folk hand weaved artifacts, coffee, instruments, drums, jewelry and so on. 

    It is the big background of world economic development and mutually complementary market characteristics that vitalize the economic and trade cooperation between Africa and Yiwu. Yiwu, as the largest small commodities market in the world, can well complement African demand for daily consumer goods. Nowadays, initiated by “One Belt, One Road” national strategy, the economic and trade cooperation between Africa and Yiwu will become more diverse and bilateral trade will be more dynamic.