Global Times: China's import expo offers new world of opportunities for LDCs

BEIJING, Nov. 8, 2024 /PRNewswire/ -- China will continue to strengthen cooperation with Global South countries and support their development and prosperity to jointly realize global modernization, China's Ministry of Foreign Affairs spokesperson Mao Ning said at a regular press conference on Thursday, reiterating China's continuous support for developing countries.

The remarks were made in response to media questions regarding the ongoing 7th China International Import Expo (CIIE) in Shanghai, which features 37 least-developed countries (LDCs), with the event organizers providing more than 120 free exhibition booths specifically for businesses from these countries.

The food and agricultural products exhibition area has also expanded at the expo, which runs from Tuesday to Sunday, for African countries to showcase a wide range of agricultural products.

Mao said that since its launch, the CIIE has been actively providing facilitation for LDCs. For the past seven years, more and more products from LDCs have entered the Chinese market through the CIIE, which contributed to the industrial development and improvement of people's livelihood in these countries, according to the spokesperson.

Representatives from some of the LDCs expressed their appreciation for China's support in giving them the opportunity to present themselves at the expo. They also expressed their expectations of deepening economic and trade ties with China.

Now in its seventh year, the CIIE has strengthened its role as an international platform for public goods, offering increased support to LDCs as they seek to enter the Chinese market and further integrate into the global economy, according to China's Ministry of Commerce (MOFCOM).

According to the UN, as of 2023, there were 45 LDCs globally, with 33 located in Africa. According to the MOFCOM, 37 LDCs are participating in this year's CIIE.

"This is the second time that we have participated in the CIIE… We have 30 companies coming to the expo this year compared with about 20 in 2023," Kassim Kone, a delegate from the Mali Export Promotion Agency of the Ministry of Industry and Trade of Mali, told the Global Times, indicating the growing importance that Mali has attached to this event.

The CIIE is really very important, especially for small and medium-sized enterprises, as they can promote and sell their products easily here, Kone said.

Munteha Jemal Seid, Plenipotentiary Minister of the Ethiopian Embassy in China, told the Global Times that the Ethiopian Embassy has participated in almost every CIIE, since it "is a big opportunity for Ethiopian companies to expose their products as they can meet buyers here and continue to connect with them."

There are various types of agricultural products, such as coffee, soybeans, kidney beans, sesame, edible oil products and honey in Ethiopia. "We are offering organic products, and this is something that is very important for the markets," the minister said.

What the LDCs are thrilled about is not just the ongoing import expo. China announced in September to give all the LDCs that have diplomatic relations with China zero-tariff treatment for 100 percent tariff lines, according to a statement from the Customs Tariff Commission of the State Council. 

China is the first developing country and major global economy to implement this initiative, according to MOFCOM.

The zero-tariff treatment, which will be effective from December 1, aims to expand unilateral opening to the LDCs and to achieve common development, the statement said.

Talking about the favorable zero-tariff treatment for the LDCs like Ethiopia, the Ethiopian envoy said that "this is a very great chance for Ethiopia as well as other African countries to expand their trade."

One product with big potential is coffee, which has gained popularity in China, with the trade volume growing from time to time, thanks to the big consumption power of the Chinese market, Seid said.

The country is also moving to register some new products like avocados and cassava for sale to China. 

Bangladesh is showcasing a variety of products at the booth, ranging from leather to food. Some of these products are already being exported to China. Regarding China's zero-tariff treatment policy for some LDCs, of which Bangladesh is one, Md Ziaur Rahman, the commercial counselor of the Embassy of Bangladesh in China, told the Global Times on Thursday, "This policy will significantly promote trade for countries like ours, and we are very grateful for it."

This year marks Madagascar's first participation at the CIIE, and it is also one of the countries given a free exhibition booth. Speaking about the country's participation, Rodrigue Brechard, a representative of the Economic Expansion Department of Madagascar's Ministry of Foreign Affairs at the CIIE, told the Global Times on Thursday, "This is a great opportunity for us to promote our products and showcase the image of our country."

"We hope to return next year with a larger and more expansive presentation," Brechard said.

SOURCE Global Times