BEIJING, Sept. 4 (Xinhua) -- For Egyptian entrepreneur Mohamed Helal, China's new initiative to increase imports from Africa means unprecedented potential opportunities for his company that focuses on eco-friendly fertilizer technology.
China could become his firm's biggest market as the country seeks to expand non-resource imports from Africa, said Helal, vice president of Gizatec, on the sidelines of a business forum under the two-day 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).
At the summit, it was announced that China will increase imports, especially non-resource products, from Africa.
"China is looking to improve its agricultural sector and switch from chemical fertilizers to organic fertilizers. That's why Gizatec is here to help Chinese farmers produce healthier food in an eco-friendly way," Helal said .
Gizatec started last year to export fertilizers to China, a market at least 300 times as large as Egypt's domestic market, according to Helal.
Helal believes increased advanced agricultural product imports will also benefit China.
"Although Africa is in the early stages of industrialization, it has some advantages in agricultural production and technologies," he said.
As China seeks to expand imports for balanced foreign trade, African firms are jumping in for a slice of the pie.
It was also announced at the summit that China will support African countries in participating in the China International Import Expo (CIIE), scheduled for November this year. The least-developed African countries will be exempted from paying exhibition fees.
Salaheddine Mezouar, president of the Moroccan Employers' Association, said the CIIE will encourage African companies to enhance their manufacturing capability, and allow them to better understand the demands of Chinese consumers.
Mezouar noted that currently exports from many African countries are still raw material rather than processed goods.
"The CIIE will encourage African companies to export more value-added products to the Chinese market," he said.
Helal is also hoping that the Shanghai expo will introduce his company to more Chinese consumers and distributors.
"As China opens its door to more imports, the liquidity of international markets will move up and global markets will flourish consequently," Helal said.
