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HomeCompany newsWankai Achieves Remarkable Growth in China-Africa Cooperation: Exports to Africa Surge Over 100%

Wankai Achieves Remarkable Growth in China-Africa Cooperation: Exports to Africa Surge Over 100%

2024-09-11

The Forum on China-Africa Cooperation (FOCAC) has recently concluded, showcasing the substantial progress made in China-Africa partnerships. Wankai New Materials Co., Ltd., based in Zhejiang Province, has reported an impressive achievement—its export orders to Africa have more than doubled this year. This milestone highlights Wankai’s strong performance in the international market and further enhances economic cooperation between the two regions.

Zhejiang-Africa Trade Thrives: $27.88 Billion in Trade for H1 2024

Data from the first half of this year indicates that trade between Zhejiang and Africa reached $27.88 billion, reflecting a 3% year-on-year increase. Zhejiang has emerged as China’s leading province for exports to Africa. Since the 2018 FOCAC Summit, trade between Zhejiang and Africa has grown annually by 12.9%, expanding from labor-intensive sectors into high-end manufacturing, digital economy, and cross-border e-commerce. This growth trend underscores Zhejiang's active efforts and significant achievements in strengthening China-Africa economic relations.

Wankai Embraces the Belt and Road Initiative: New Production Facility in Nigeria

As part of the Belt and Road Initiative, Wankai New Materials has invested in a new production facility in Nigeria, which was established last year. The plant, with an annual capacity of 300,000 tons of bottle-grade PET (Polyethylene Terephthalate) chips, is set to create numerous job opportunities, facilitate technology transfer, and contribute significantly to regional economic development. This facility represents a key milestone in Wankai’s global expansion strategy and demonstrates the company’s commitment to sustainable development and its ambition to extend its international market reach.

Seizing the Opportunities in China-Africa Cooperation: Insights from Wankai VP Chen Canzhong

In an interview with Zhejiang News, Chen Canzhong, Vice President of Wankai, emphasized the profound connections and vast opportunities in China-Africa cooperation. He highlighted that Wankai’s exports to Africa have more than doubled compared to last year, indicating strong market demand and widespread recognition of the company’s products. Chen expressed that Wankai is ready to capitalize on new opportunities in China-Africa cooperation with an open mindset, aiming to deepen partnerships and achieve mutual success.

Looking ahead, Wankai plans to further enhance its R&D investments, advance production technologies, drive green innovation, and expand its international market presence. The company is dedicated to delivering superior polyester products through technological advancements and high-quality offerings, thereby solidifying its competitive edge in the global market. Wankai’s continued growth will provide customers worldwide with more high-quality and innovative options, contributing to shared global prosperity.