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Opportunities abound in upcoming Africa-China business summit

Home National Opportunities abound in upcoming Africa-China business summit

Staff Reporter

WINDHOEK – It is estimated that approximately 40 local business people will attend the upcoming China-Africa Cooperation (FOCAC) Summit in Beijing, China, set for September 1 to 4. During the summit Namibian business delegates will be presented with opportunities to participate in a series of business events that range from business forums, business-to-business meetings and company visits, amongst others.

Of the estimated 40 delegates, of which eight will travel under the banner of the Namibia Chamber of Commerce and Industry (NCCI), only 19 are confirmed to attend the summit while the remaining 21 will embark on factory visits. The trip, which is organised by the Ministry of Industrialisation, Trade and SME Development and the NCCI, is two-fold, were President Hage Geingob, accompanied by business people will first stop in the Republic of Indonesia for a State visit from August 27 to 31, after which the delegation will proceed to the summit in China.

According to a statement issued by Simon Shanyengana, an investment advisor for the summit, African business and government leaders will have the opportunity to meet with Chinese exporters of industrial equipment, rice, clothing, vehicles, electronics, plastics (for packaging and piping) and pharmaceuticals, to mention a few. 

Shanyengana stated that the benefits of increased bilateral cooperation between Africa and China can be balanced through win-win strategies. “China and Africa have a political ally and potential export market in each other. African nations also benefit from receiving essential infrastructure and technologies while China secures a solid supply of raw material,” he remarked. 

He said African states can adopt proven knowledge management systems utilised in China to increase economic prosperity. “This quid pro quo status will boost both economies in the long run,” Shanyengana added.
He further said the summit will connect the much-talked about Belt and Road initiative with Agenda 2063 of the African Union and the UN 2030 Agenda on sustainable development.

Furthermore, Shanyengana expects the sixth China-Africa entrepreneurs conference, which is a platform for bilateral business talks within FOCAC, to be the main target for any business representatives to meet, court and attract Chinese investors.

He said success at this event will be determined by various factors such as a business’ ability to market itself, an understanding of Chinese business etiquette, norms and culture, product quality as well as a project’s level of development.  Shanyengana quoted the Xinhua news agency that exports from Namibia to China make up almost 18.3 percent of total exports, making China the largest export market for Namibian products. He said exports can potentially be increased to include beef, while seafood such as certain varieties of crabs, abalone lobsters and oysters already have a market in China. 

“The logistical challenge here is that certain seafoods, such as crabs, have to be imported live into China because of regulations and not as frozen food,” said Shanyengana.

China invests in more than 20 African countries over a wide range of sectors including mining, infrastructure (mostly capital projects), transport and agriculture. In addition, China has invested in over 400 projects in Nigeria with an estimated 240 firms operational as opposed to about 66 Chinese projects with around 30 registered Chinese firms operational in Namibia.