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The West Asia and Africa markets are divided into two parts, the Saharan Desert as the border, the south as the African market, and the north as the Arab market.
The Arab market is characterized by a single source of resources, a single economic structure, only the oil industry and the petrochemical industry, and other industries and agriculture are extremely weak. Now countries in this region have also seen this and are vigorously developing other industrial and agricultural production outside the petrochemical industry in order to reduce their dependence on foreign countries. At present, the proportion of China’s market in this market is still very small. Last year’s exports to this region were about 7 billion to 8 billion U.S. dollars, while the total imports of this region (excluding Iran) were about 150 billion U.S. dollars. There is a lot of export potential.
The size of the African market economy is much smaller. The import volume is only about half of the Arab market, and a large part of it belongs to South Africa. Although the amount of imports is not large, it is a good market. In South Africa alone, China has invested in three television plants. South Africa is well-developed in terms of military industry, smelting, medicine, and coal, but light industry is lagging behind, and there is almost no market demand. The unfavorable factor is that the economy is unstable here, currency depreciation is too fast, and trade and investment risks are high. The African market outside of South Africa is characterized by a small economy. It is difficult for regular companies to do so, and it is more suitable for small private investment. For this market, it is mainly to use our foreign aid to drive exports of labor and raw materials. Another is to rely on private small-scale export operations.
Another country worth mentioning is Jordan, because Jordan has signed a free trade agreement with the United States.
Only four countries in the world have signed such trade agreements with the United States. They are Mexico, Canada, Israel and Jordan. The four countries can export goods to the United States without duty-free quotas.
In short, investment in the Middle East must use three major advantages. The first is to make full use of local funds, use the preferential loans established by local governments to attract investment, reduce their own capital investment, complete the construction as soon as possible, start production, and recover investment as soon as possible. The second is to make full use of the local market and make up for the shortage. The third is to make full use of some special preferential trade policies between some countries in the region and the United States and other developed countries to avoid some trade barriers in the United States and other Western countries.
With the development of industry and agriculture in West Asia and North Africa, the demand for electromechanical products is increasing. These countries have formulated many preferential policies and incentives to encourage investment by foreign companies. Therefore, China’s electromechanical products are exported to West Asia and North Africa. There is the possibility of further expansion.
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