Investment opportunities for Africa and China at PIGA B2B event in Hangzhou
(Hangzhou-Geneva) – The International Trade Centre (ITC), the Investment Promotion Agency of the Ministry of Commerce of the People’s Republic of China, the China Council for the Promotion of International Trade (CCPIT), the Municipal Government of Hangzhou, are today and tomorrow (26-27 April) organizing a business-to-business (B2B) matchmaking event in Hangzhou, China.
The meeting, organized under the auspices of the Partnership and Investment for Growth in Africa (PIGA) project, funded by the United Kingdom’s Department for International Development (DFID), will focus on agro-processing and light manufacturing opportunities in Ethiopia, Kenya, Mozambique and Zambia. It will bring together companies and investment promotion organizations from the four African countries and Chinese companies that have strong interests in building business partnerships and investing in Africa.
Companies participating in the B2Bs will have the opportunity to meet with new business partners, explore new areas of cooperation and attend the plenary and practical sessions of the event.
Feng Yaoxiang, Director of the Department of Trade and Investment Promotion of CCPIT, said: 'PIGA enjoys great practical significance. With rich content in various forms, this event has been warmly welcomed by Chinese and African enterprises. Nearly 80 African companies have met with more than 200 representatives from Chinese enterprises. We hope that all participants have been able to make full use of this opportunity to carry out in-depth exchanges and discussions, expand trade and investment cooperation, and achieve mutually-beneficial and win-win development.’
In addition to one-on-one business meetings, a dedicated pitching session will showcase concrete large investment projects to participating Chinese investors. The event participants will benefit from the plenary to learn about the advantages and opportunities for investing in the four African countries and hear about the experience of Chinese companies who have already invested in those countries.
‘Africa is a continent on the rise with huge untapped potential for investment and trade,’ said Ashish Shah, Director for Country Programmes at ITC. ‘It is very well endowed with natural resources, a growing reservoir of young and skilled human resources, and a large internal market with a growing middle-class. In other words, Africa is more than ready to attract investments and boost trade.’
‘ITC’s PIGA project is an innovative partnership that encourages responsible investments into Africa with a view to promote sustainable and inclusive growth across the continent,’ Mr. Shah said.
Through the PIGA project, ITC supports increased foreign investment and business partnerships local development in two productive sectors, agro-processing and light manufacturing. Its goal is to boost exports, jobs and local development through foreign investments and business partnerships in the two sectors in Ethiopia, Kenya, Mozambique and Zambia.
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Notes for the Editor:
Further background information on the Partnership for Investment and Growth in Africa:
About ITC – The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists micro, small and medium-sized enterprises to become more competitive in global markets, thus contributing to sustainable economic development as part of the Sustainable Development Goals.
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About CADFund – CADFund is an independently operated fund whose primary objective is to support Chinese companies to develop cooperation with Africa. It was established as an outcome of the Beijing Summit of the Forum on China-Africa Cooperation in November 2006. CADFund aims to achieve mutually beneficial cooperation between China and Africa, filling the gaps between traditional aids and loans.
About DFID – The Department for International Development (DFID) is the government ministry responsible for leading the UK’s work to end extreme poverty. DFID works to end the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. DFID is the donor of the PIGA project.
About CCPIT – China Council for the Promotion of International Trade (CCPIT) is a national foreign trade and investment promotion agency in China founded in 1952. The major responsibilities of the CCPIT include implementation of relevant major national development strategies, promotion of foreign trade, bilateral investment and economic and technological cooperation and carrying forward cooperation with overseas trade promotion counterparts.
Sylvie Bétemps Cochin
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