Investment forum to start new chapter in Sino-African ties

Updated 2017-11-16 10:04:17 China Daily

The second edition of the China-Africa Investment Forum, which will be held in Marrakesh, Morocco, on Nov 27 and 28, will address the necessary conditions for the China-Africa economic partnership to realize its full potential.

Held under the high patronage of King Mohammed VI, the forum is expected to bring together more than 400 high-level Chinese and African economic decision-makers. It is co-organized by the Ministry of Industry, Investment, Trade and Digital Economy of the Kingdom of Morocco, Jeune Afrique Media Group, and BOAO Business Consulting.

It has taken China less than 20 years to become Africa's main economic partner. With more than 10,000 Chinese companies active on the continent, the value of its trade with Africa, which was 0 billion in 2016, exceeds that of India, France and the United States combined.

Nevertheless, experts say there is still considerable potential for growth in the China-Africa economic partnership.

According to McKinsey & Company, the worldwide management consulting firm, revenues generated in Africa by Chinese companies could increase by 144 percent by 2025, suggesting this is the time to start a new chapter that is equitable and beneficial for both partners.

Stepping up investment, encouraging partnerships in new growth-enhancing sectors, fostering co-production and local industrial sourcing, identifying common interests between China's investment strategies and Africa's economic priorities, and creating the financial and legal framework that will promote trade and industrial success will be key themes that will come under the spotlight at the forum.

Several high-profile speakers, both African and Chinese, are set to take part, including: Moulay Hafid Elalamy, Morocco's minister of industry, investment, and trade, and Othman Benjelloun, CEO of the BMCE Bank of Africa Group.

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