Seeking a Trade Boost
Burundi is eyeing deeper economic and trade relations with China through CIFTIS
China and Burundi have maintained high-level development of bilateral relations, enjoyed firm political mutual trust, and achieved remarkable results in various fields of cooperation over the years. According to the statistics from the General Administration of Customs of China, in July 2022, the bilateral import and export of goods between China and Burundi totalled $14.67 million, an increase of $7.52 million compared with the same period in 2021.
This year, Burundi is among the 10 foreign countries holding exhibitions at the China International Fair for Trade in Services (CIFTIS) in the name of their countries for the first time. The country is seeking to strengthen its economic cooperation with China in all aspects in the hope of a brighter future.
The Burundi ALARME Association, chaired by Pascal Gasunzu, former Burundian ambassador to China and member of the Senate of Burundi, is the organiser of Burundi’s participation in CIFTIS. ChinAfrica talked to Gasunzu about China-Burundi trade relations. Edited excerpts of the interview following:
ChinAfrica: What role does ALARME play in promoting China and Burundi trade in goods and services? Pascal Gasunzu: Since its establishment in 2007, ALARME has built a communication platform for cooperation in the service sector between Burundi and China. As the first non-profit organisation to represent Burundi’s commercial and cultural interests in China, ALARME has actively organised and participated in China-Africa economic and trade activities with the support of the Chinese and Burundian governments, and has built a platform for cultural exchanges and product promotion to enhance China-Burundi trade and investment cooperation.
At present, ALARME plans to launch the First East African Community E-Commerce Platform project in Burundi. It is hoped that through CIFTIS, we could find Chinese partners to jointly promote the project, so as to push the development of international service trade between China and Burundi.
What kind of products and services of Burundi would you like to bring to the Chinese market?
Burundi is located in central and eastern part of Africa. Its economy is mainly based on agriculture and animal husbandry. Its main export products are coffee and tea, and its main import products are industrial products and fuels. China is one of Burundi’s major trading partners. Burundi has established trade cooperation with China on coffee beans and tea. Burundi also has many other commodities to offer for the Chinese market, such as chili, honey, avocado, avocado oil, etc., as well as services in tourism, construction, banking and transportation.
How do you see the role of CIFTIS in promoting international trade in services?
As an international comprehensive fair, CIFTIS offers all-around opportunities for companies worldwide to tap into China’s service trade market. The fair will help to promote trade in services between countries, so that Chinese and foreign companies can obtain contracts and orders, thereby promoting the development of global trade and creating favourable conditions for countries in terms of economic development.
Given COVID-19 resurgences, increasing uncertainties and instabilities in the international situation, as well as the sluggish world economic recovery, the on-schedule holding of CIFTIS is of special significance.
Burundi is among the 10 foreign countries holding exhibitions at the China International Fair for Trade in Services in the name of their countries for the first time. The country is seeking to strengthen its economic cooperation with China in all aspects in the hope of a brighter future.
Trade in services between Burundi and China is still at an early stage. CIFTIS opens up an avenue for Burundi to enter the international economic and trade field. It presents a new blueprint for the future of China-Burundi economic and trade exchanges.
ALARME has participated in the China International Import Expo (CIIE) and China-Africa Economic and Trade Expo (CAETE) in the past years. How do you view the favourable conditions created by China to promote China-Africa economic cooperation, including in the field of services?
ALARME participated in the CIIE in 2020 and 2021, and in CAETE in 2019 and 2021.
CIIE has helped to diversify China’s sources of imports and facilitate greater trade flows between China and Africa. It will enable African businesses and Chinese manufacturers to interact and reach business deals, which will help Africa’s economic recovery in the post-pandemic era. By holding CIIE consecutively for five years, China has made it easier for African products to gain international recognition by demonstrating its policy of an open, inclusive, balanced and beneficial-to-all economic development.
CAETE is a new platform to promote the implementation of economic and trade initiatives from the triennial Forum on China-Africa Cooperation (FOCAC), as well as a new window for local cooperation with Africa. CAETE serves as a valuable platform to implement FOCAC initiatives and promote economic and trade cooperation between China and Africa.
The three major exhibition platforms - CIIE, CAETE and CIFTIS - show China’s unwavering opening up to
Trade in services between Burundi and China is still at an early stage. CIFTIS opens up an avenue for Burundi to enter the international economic and trade field. It presents a new blueprint for the future of ChinaBurundi economic and trade exchanges.
the rest of the world. Under the guidance of Chinese President Xi Jinping’s economic thought, China has remained a supporter of globalisation and multilateralism while confronting protectionism and global economic headwinds.
The favourable conditions created by China to promote China-Africa economic cooperation have strengthened the solidarity and cooperation of the Chinese and African peoples, improved the well-being of all mankind, and set an example for establishing a new type of international relations.
What kind of preferential policies does Burundi offer to attract foreign investment?
Burundi remains the best investment destination. The country has excellent policies that ensure friendly investment environment and investor protection.
Burundi is one of the seven partner states of the East African Community (EAC). The government of Burundi has many advantages in attracting foreign direct investment. First of all, the country enjoys political stability and security. Second, the country is a member of the Common Market of EAC and the Free Trade Area of the Common Market for Eastern and Southern Africa, which enables investors’ direct access to several neighbouring countries.
In addition, it has relatively cheap manpower compared to countries in the sub-region. The country ensures non-discriminatory and favourable business rules, ensuring protection of investors and investments.
Energy, ICT, manufacturing industries, hotel and tourism, maritime transport and port services are major areas for investing in Burundi.