During Beninese President Patrice Talon's recent visit to China, China and Benin issued a joint statement announcing the establishment of a strategic partnership. Specialists have emphasized the China-Benin economic and trade cooperation will be further deepened at this new starting point, so as to advance the construction of a closer China-Africa community with a shared future.
Remarkable results in the bilateral economic and trade cooperation
In recent years, China-Benin trade has developed steadily. According to the data, China-Benin bilateral trade volume in 2022 reached USD 1.95 billion, up 33.7% year on year. In a breakdown, China's exports hit USD 16.9 billion, marking a 38% increase, while imports jumped 11% to USD 260 million. China has become Benin's second-largest import source and third-largest export destination.
Just a few days before President Patrice Talon's visit to China, the 13th edition of the Chinese Products Fair in Benin opened at the Benin Chinese Economic and Commercial Development Center (Benin Center). More than 40 exhibitors from China made a special trip to Benin to participate in the Fair and investigate the local investment business environment. There was an endless stream of visitors in the venue, with buyers from West African countries placing orders on-site from time to time.
"Founded in 2008, the Chinese Products Fair in Benin serves as a prominent example of the flourishing China-Benin economic and trade cooperation, providing numerous opportunities for enterprises in both countries to exchange and cooperate," explained Chen Weiwei, the project leader of the Benin Center. Speaking with the International Business Daily reporter, she highlighted that over the course of the previous 12 exhibitions, nearly 700 Chinese enterprises participated, attracting nearly 20,000 merchants from West African countries who came for procurement opportunities.
As a government-to-government cooperation project between China and Benin, Benin Center has witnessed the deepening of economic and trade relations between the two countries. In the past decade, the Benin Center has facilitated consulting services for 1,017 enterprises engaged in trade between China, Benin, and Africa. Moreover, it has played a pivotal role in enabling Benin to export over 150,000 tons of agricultural products, valued at more than USD 200 million. Locally, the Benin Center is often referred to as a "Chinese small commodity market." It attracts businessmen from West African countries to look for products and place orders here.
According to Yang Baorong, Director of the Economy Division at the China-Africa Institute, "China-Benin economic and trade cooperation exhibits a high level of compatibility and specificity." He told the International Business Daily that Benin's national economy relies heavily on agriculture, with products such as cotton, cashew nuts, and palm oil gaining global recognition as key exports. However, the limited level of modernization hampers the progress of agriculture in Benin. As a country with advanced agricultural practices, China has undergone the transformation to agricultural modernization and can contribute its expertise, technologies, and experiences to support Benin's agricultural development. Furthermore, China's vast consumer market presents new opportunities for the growth of Benin's agricultural sector.
At present, the pragmatic cooperation between China and Benin in the agricultural field has yielded fruitful results. Taking the cotton industry as an example, China's technical assistance project for cotton in Benin has been implemented since 2013. The project has made significant contributions to enhancing the quality of cotton production in Benin and uplifting farmers from poverty to prosperity. This has been achieved through initiatives such as improved cotton breeding, demonstration of advanced planting technologies, and technical training on agricultural machinery. Moreover, as a crucial supplier of cotton to China, Benin has played a vital role in meeting China's demand for cotton consumption.
Greater prospects for cooperation
In June 2019, China and Benin signed the Memorandum of Understanding (MOU) on Jointly Promoting the Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Taking this as a starting point, the two countries have carried out friendly cooperation in politics, economy, military affairs, culture, education, and health.
"Since becoming a part of the Belt and Road Initiative (BRI), Benin's economic and social development has undergone a remarkable transformation," shared Chen Weiwei, who has been actively engaged with the local community in Benin for 15 years. She acknowledged that in the past, Benin was characterized by inadequate road infrastructure and old urban buildings. "Nowadays, Benin's cities have undergone significant improvements with better infrastructure, and the coastal roads have been rebuilt," she added.
In addition to the renewal and improvement of local infrastructure, Chen Weiwei has also witnessed a rapid improvement in Benin's living standards. A few days ago, she received a list of purchases from clients in Benin. On the list, she was pleasantly surprised to find that people in Benin who used to only purchase daily necessities now want to buy consumer goods such as cooking machines, coffee makers, and air conditioners.
"This year marks the 10th anniversary of the BRI, and China and Benin have recently established a strategic partnership. Standing at this new starting point, I firmly believe that as Benin's economic level continues to improve and China-Benin economic and trade cooperation deepens further, the West African market, with Benin as a strategic "bridgehead," will emerge as a promising and expansive market for Chinese enterprises to explore," expressed Chen Weiwei with great anticipation.
Discussing the prospects of China-Benin economic and trade cooperation, Yang Baorong highlighted that Benin currently has a relatively narrow industrial structure, whereas China possesses extensive industrial and value chains. Through collaboration, Benin can integrate into the global industrial and value chains, contributing to the development of a closer China-Africa community with a shared future.
Yang Baorong also emphasized tourism as a promising new market for China-Benin cooperation. In recent years, the Government of Benin has prioritized the growth of tourism, resulting in its emergence as the second-largest foreign exchange earner for the country, following the cotton industry. Remarkable attractions such as Ouidah Ancient City, Ouidah Museum of History, the historic capital of Abomey, wildlife parks, and Ganvie Lake Village have drawn visitors from around the world, including China." Benin has a profound cultural heritage and abundant cultural tourism resources, which are very attractive to Chinese tourists. "China's consumers will also play a crucial role in driving Benin's tourism development," stated Yang Baorong. To foster the growth of tourism, Benin is actively advancing the construction of transportation and communication infrastructure, while simultaneously promoting the development of the digital economy and modern service industry. This is undoubtedly another opportunity for Chinese enterprises.
Meanwhile, Benin warmly welcomes Chinese enterprises to invest and establish businesses in the country. During the China-Benin Economic and Commercial Cooperation Forum in April this year, Arnauld Akakpo, President of the Chamber of Commerce and Industry of Benin, presented "a range of favorable investment policies" to Chinese business communities. "Benin is a land abundant with investment opportunities, extending a warm welcome to Chinese investors from afar," said Arnauld Akakpo with great enthusiasm.
