More than 152 countries around the world, including Rwanda, gathered in Shanghai to participate in the International Trade Fair organized by China since 2018, which is now in its seventh year.
This exhibition is a major program launched by the President of China, Xi Jinping, with the aim of expanding the doors of trade between China and the rest of the world. At least 1,000 exhibitors from all over the world, while more than 10,000 will participate as buyers or spectators.
It is held in a building known as the National Convention & Exhibition Center. Rwanda is one of the countries where it is expected to showcase some of its best products including tea, coffee, honey, pepper and other handicrafts.
Rwanda also sent a group of young Chinese-speaking children singing to passers-by at its stand.
The Prime Minister of China, Li Qiang, opened the exhibition, saying that his country is determined to open its doors to the rest of the world for the common good. For the first six times, this exhibition has exceeded the expected income as it reached 420 billion dollars, while more than 1130 companies from different countries of the world took the opportunity to show their products.
The Prime Minister of China said that the country's economy continues to grow year after year, that in the last quarter, it grew at a rate of 4.8%, which is the first rate among the major countries in the world.
He said, "Opening the door is an important principle that China is committed to. Regardless of the direction the international community takes, China will not abandon its commitment, but we will continue to work with the world and China is ready for cooperation that benefits everyone, for the benefit of the world."
'Dwellers of the Earth.' He said that the world is facing many obstacles that threaten economic development and peace, but in any case, these can be solved by cooperation as a way to lasting peace, freedom and stability. It is expected that the Minister of Trade and Industry of Rwanda, Sebahizi Prudence, will give feedback on economic changes that are suitable for developing countries to achieve sustainable development. In 2023, trade between Rwanda and China will reach 500 million US dollars.
It is an increase of 16.5% compared to the year 2022. The trade between the two countries or what Rwanda takes from or sends to China was worth $477 million in 2023. In the first three months of 2023, China's remittances from Rwanda reached $35 million, an increase of 183%. Since 2003, 118 Chinese companies have entered Rwanda with a value of $959.7 million, employing 29,902 people.
As of 2022, the investment projects that Rwanda received, those from China were at the top because they reached 49 where they were worth $182 million.
