President John Pombe Magufuli of Tanzania has urged China to expand its market for the African products to penetrate more. The President acknowledges the wide market the East Asian country possesses which is ideal for many African countries to take advantage of. As African countries seek to liberate their economies, China could be an open door to start with.
Tanzania is working towards being an industrialized economy and through the process will need a hungry market for its products. Despite a clear plan to better the business environment in the country to invite potential investors, they look to supply the local industry with raw materials and other support to lift it up. The Government has stepped in to offer help to battle the domestic and regional competition.
Ethiopia is on the verge of becoming Africa’s manufacturing hub. Since the beginning of the year, a number of customary changes have been made to ensure the East African country competes for the top investment hub in East Africa. It also sees the manufacturing sector as being a spring-board to its economy, in collaboration with agriculture.
With the examples of Tanzania and Ethiopia, these countries would need a market for their products, a market massive enough to ensure they rake in good earnings in their operations. China is just on the list, having also invested much in African countries with major development projects taking center-stage. It could be a test to return the favor for countries that have opened their economies for the Chinese to invest.
With a population of close to 1.4 billion, China has a market to accommodate foreign products and help in economic liberation. The country should see the move as an ideal step to strengthen economic ties with African countries. Their support towards African governments has been tremendous including financial inclusions that have helped greatly in government operations.
Coffee and tea are among the most produced agricultural commodities by African countries and in need of market. As they seek even to compete in the global markets, they need a stronghold to push their products. Other countries such as Brazil produce the same commodities with better quality. However, should the African products be prioritized then they could be more competitive.
Recently, a Rwandan coffee house was opened in US to serve the market with Rwandan coffee. With the help of American authorities, it was made possible to establish the coffee house and reach to a new market. This would help Rwandan coffee penetrate more under such environment and give Rwandan farmers some pride. All in all it is a market for African product.
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The massive market of China could help the tourism sector as the Chinese visit African breathtaking and adventurous tourist attractive sites, and generate some revenue for the governments.
