An extraordinary summit of the African Union (AU) opened in Niamey, the capital of Niger, July 7, with the announcement of the establishment of the African Continental Free Trade Area (AfCFTA), which will create a new channel for foreign investment in the African market. The deal wa reached after four years of tough bargaining.
China will continue to expand its construction of pilot free trade zones. On June 28, during the G20 summit in Osaka, Japan, China unveiled five major measures aimed at breaking new ground in opening-up. One of these measures was that the country will set up six new pilot zones for free trade and add a new area to the China (Shanghai) Pilot Free Trade Zone.
The Osaka Declaration on the Digital Economy was issued June 28 under the witness of 27 leaders of the countries participating in the Leaders' Special Event on the Digital Economy on the sidelines of the G20 Osaka Summit.
Many Chinese export enterprises are tirelessly working to open up the African market. With the help of cross-border e-commerce, Chinese manufacturing products can easily to be sold in Africa. Egypt, as the third most populous country in Africa and the most populous in North Africa, is witnessing rapid development in e-commerce, bringing both challenges and opportunities.
As Sino-US economic and trade relations are undergoing hardships, Russian scholars estimate that there will be new development opportunities for Sino-Russian ties and an increase in the trade volume between the two countries by 28-30 percent this year.
As the international market becomes increasingly complex, a number of textile and garment export companies in East China are trying to spread the risk by exploring diversified markets.
Textile and garment enterprises that export products to Nigeria should note that the Central Bank of Nigeria has banned foreign-exchange settlement of imported textile products, forbidding all textile and garment materials importers to apply for foreign-exchange settlement and purchases. The ban has already taken effect.
The 29th East China Fair, the largest regional trade fair in China, ran from March 1 to 4 in Shanghai.