African exporters are gaining ground at the China International Import Expo (CIIE) in Shanghai this week.
Through the Standard Bank Africa-China Trade Solution (ACTS), the bank is representing a selection of export-ready businesses from the continent at the world’s largest import trade expo that runs from 5-10 November.
Standard Bank Business and Commercial Banking Head of Business Enablement, Andrew Robertson, said CIIE represented a “powerful opportunity” for African businesses to gain direct access to one of the world’s most significant consumer markets.
“Our strategic partnership with the world’s largest bank, Industrial and Commercial Bank of China (ICBC), gives us a competitive advantage in the Africa-China corridor, guided by our commitment to Africa as our home, and our continued efforts to drive her growth,” Robertson said.
In 2023 African clients, supported by the bank’s bilingual English-Mandarin team, engaged in business transactions with Chinese importers at CIIE, with the range of exported goods including seafood, nuts, aloe vera skincare products, rooibos tea, wine, sesame, ginger, coffee, and more.
Last year, CIIE attracted 400 000 registered Chinese buyers, with deals amounting to $78.4 billion. This year, the event will feature more than 70 participating countries and international organisations.
Robertson said that by hosting its business clients at the event, the bank was facilitating transactions and enabling lasting partnerships that could transform the trajectories of African businesses.
“We will leverage our deep understanding of our clients and our extensive African footprint and relationship with ICBC to help our clients turn trade prospects from CIIE into tangible growth opportunities,” he said.
Strategic partners from South Africa, Ghana, and China will attend the event, including representatives from Wesgro; the Department of Trade, Industry and Competition; the Ghana Export Promotion Authority; and the Chinese Chamber of Commerce for Foodstuffs.
Wesgro CEO Wrenelle Stander said the organisation was pleased to be participating in the event to grow the province’s exports in strategic markets.
“China has been South Africa’s largest export market since 2019, with exports reaching R227.83 billion in 2023.
“As the world’s top exporter and the second-largest importer, China is a crucial gateway for the Western Cape’s ‘Made in the Cape’ products, including rooibos tea and wine. In partnership with Standard Bank, we look forward to forging connections that pave the way for exports growth.”
Standard Bank also plays a role in Africa-China trade through its participation in the biennial China-Africa Economic and Trade Expo. This event promotes economic and trade collaboration between Africa and China, aligned with the Forum on China-Africa Cooperation goals.
During this year’s CIIE, the bank and ICBC will host a targeted matchmaking and networking event to connect African businesses with vetted Chinese buyers, and 30 of the former’s clients will showcase a range of agricultural products.
Countries represented include South Africa, Uganda, Zambia, Ghana, Nigeria, Kenya, Zimbabwe, Lesotho, Angola, and Malawi. Products showcased will include avocados, fruit, spirits, sesame seed, beef, rooibos, coffee, ginger, macadamia nuts, wine, aloe products, ginger, and handmade leather handbags.
Beyond CIIE, the bank, in collaboration with Wines of South Africa, Wesgro, Chenin Blanc Association and the Department of Agriculture-Western Cape, will showcase South African wines at ProWine Shanghai 2024 from 12-14 November 2024.
“We are determined to turn possibility into opportunity for the businesses that drive Africa’s growth,” Robertson said.
“Our deep African knowledge and understanding, combined with our strategic partnership with ICBC is a unique capability that enables us to prepare local businesses for growth on the world stage,” he said.
