Weihai deepens economic ties with Africa

(chinadaily.com.cn)| Updated : 2024-12-23

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The coastal city of Weihai in Shandong province has been deepening its economic cooperation with Africa, with a particular focus on fisheries, infrastructure, and other key sectors.

Currently, over 620 enterprises in Weihai are engaged in trade with more than 50 African countries and regions. The city has established 66 enterprises and institutions across Africa, spanning 21 industries including construction and logistics. Weihai has also undertaken hundreds of engineering projects in over 20 African countries, generating billions of dollars in revenue.

In the first 10 months of this year alone, Weihai's exports to Africa reached 6.97 billion yuan ($945 million), marking a 10.8 percent year-on-year increase, demonstrating the robust growth of trade between the two regions.

Weihai International Economic & Technical Cooperative Co Ltd (WIETC) is leading the way in fisheries cooperation by developing a comprehensive fishery industrial park in Equatorial Guinea. This $200 million project is set to become one of Weihai's largest investments in Africa in recent years.

Weihai has been actively engaging in cooperation with African countries in seven key areas: agriculture, marine fisheries, healthcare, green energy, connectivity, infrastructure, and people-to-people exchanges. By aligning with local industrial needs and seizing opportunities in Africa's emerging markets, the city has achieved significant progress in its cooperation with the continent.