A roundtable on trade between Xiamen and Africa and possibilities of forging partnerships was held in Xiamen city, Fujian province, on July 21.

According to its organizer, the aim of the event was to help companies in the city expand their global presence.

Su Yuqun, president of the China Council for the Promotion of International Trade Xiamen Committee, talks to China Daily on how to facilitate global expansion for Xiamen’s enterprises, on July 22. [Photo/chinadaily.com.cn]

It is the third straight year for the China Council for the Promotion of International Trade Xiamen Committee (CCPIT Xiamen) to host the roundtable, where some 380 business representatives and traders from Africa and Fujian shared up-to-date market needs.

The committee, a government agency, is dedicated to promoting trade, investment and economic cooperation between Xiamen and other countries and regions; and to enhancing mutual understandings and friendship, said Su Yuqun, president of the committee.

"CCPIT Xiamen’s main responsibility is to help local enterprises open up international markets," he told China Daily.

The Tuesday’s Xiamen-Africa trade roundtable was a win-win, as companies in Xiamen can capitalize on Africa’s need for trade and investment, especially in infrastructure and manufacturing sector, while creating job opportunities in the continent, he added.

Su also stressed the importance of added value in domestic enterprises’ global expansion quoting the Smiling Curve theory proposed by Stan Shih, the founder of Acer, an IT company headquartered in Taiwan.

"Added value matters more for profit-pursuing entrepreneurs. So how can domestic enterprises make more money? I think they ought to expand their business globally using incentives and abundant resources overseas while investing more in R&D and marketing domestically."

CCPIT Xiamen plans to host two more such roundtables connecting Xiamen with India and the Association of Southeast Asian Nations (ASEAN) in 2015.It will also co-organize the 14th World Business Leaders Roundtable on Sept 7 during the China International Fair For Investment and Trade (CIFIT).

The World Business Leaders Roundtable this year will focus on exploring cooperation opportunities in e-commerce industry among countries and regions along the Maritime Silk Road, said Su.

Overseas trade promotion organizations will attend the meeting to boost international cooperation and exchange of the industry, he added.