05 Nov 2019

Stanbic Bank Botswana parent company, Standard Bank, will host over 90 clients from six African countries at its networking activities in partnership with the Industrial and Commercial Bank of China (ICBC) at the upcoming China International Import Expo (CIIE) in Shanghai from November 5-10. A press release from the bank says the CIIE, which is now in its second year, is the world’s most dominant import trade show and provides opportunities for global exporters to expand their business to China and develop beneficial trade relations with Chinese importers. The release states that 3 000 enterprises representing 150 countries are confirmed to participate in the expo, and more than one million visitors are expected to visit over its duration.

It also states that 2019 delegation includes clients from South Africa, Uganda, Nigeria, Mozambique, Angola and Ghana spanning a range of sectors including retail, pharmaceuticals, logistics and, most predominantly, agriculture.

The significant weighting of African clients within the food and agriculture sector is said to be a good match for Chinese importers who are looking to satisfy demand for quality African products such as wines, fresh produce, nuts, maize, seeds and oils. Standard Bank, together with the ICBC, will host bespoke match-making sessions that run concurrently to the CIIE, where the invited African clients will be ‘matched’ for discussion on opportunities with over 500 Chinese clients of the ICBC who are interested in importing African products, the release says.

To further support its intent to expand Africa China trade, Standard Bank has two large stands at CIIE for the duration of the expo with the first situated in the Trade in Service Exhibition Hall while the other features prominently in the Food and Agriculture Exhibition Hall. The release further says clients will get the opportunity to introduce their products to a multitude of Chinese buyers, importers and investors who plan to attend the CIIE, as a practical and tangible step in rapidly growing trade and investment relationships between Africa regions and China.

The press release explains that these efforts are bolstered by the cooperation between Standard Bank and the ICBC, who together understand the vast potential of China-Africa trade better than any organisation owing to their strategic partnership aimed at expanding the import and export value chains between Africa and China.

It continues to say that the two partners have been building an effective trade corridor between China and Africa over the 10 years of their institutional relationship, with both banks working closely together to provide product offerings to meet the needs of both Chinese importers and African exporters at both ends of the trade corridor.

Furthermore, the release says the banks must add value by providing their clients with the exposure, information and expertise to foster the relationships and opportunities that drive their growth.

Most importantly, however, it says exposing Standard Bank’s African clients to 150 000 Chinese importers at the wider expo presents African businesses, their trade associations and governments, ‘the biggest opportunity yet to grow the scale, reach, sophistication and inward integration of African businesses and economies through export-led growth.’

ENDS